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BIT Asset Management Expects Swiss Bitcoin ETF to List in November

The Bitcoin Fund ETF (BBIT) will hold Bitcoin directly, with its public offering restricted to Switzerland.

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Glass entrance to a Swiss exchange catches the first morning light / TokenPost.ai (macro)
Glass entrance to a Swiss exchange catches the first morning light / TokenPost.ai (macro)

BIT Asset Management expects its Bitcoin Fund ETF (BBIT) to begin trading on SIX Swiss Exchange in November. The fund will hold Bitcoin (BTC) directly and will be offered to the public only in Switzerland.

The Oct. 20 approval covered a fund investing directly in Bitcoin, but the Swiss Financial Market Supervisory Authority (FINMA) did not identify its issuer in the approval announcement.

BBIT is structured as a Swiss collective investment scheme, with fund assets kept separate from those of its management company. FINMA placed it in the category of “other funds for alternative investments” with particular risk.

Bitcoin remains highly volatile even when accessed through an approved ETF. Trading is expected to begin in November; no specific date was given.

Enna Lee

Reporter

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

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