FINMA Clears Switzerland’s First Spot Bitcoin ETF for November Launch

FINMA approved BIT AM to launch Switzerland’s first spot Bitcoin (BTC) exchange-traded fund, a planned product that would also be Europe’s only spot Bitcoin ETF. The approval clears the way for a regulated Bitcoin investment vehicle aimed at Swiss investors.

BIT AM, BIT’s Swiss asset management subsidiary, plans to list the Bitcoin Fund ETF under ticker BBIT in November. The fund will invest directly in Bitcoin and use Switzerland’s collective investment scheme structure, which keeps its assets segregated. It is open to a broad investor base and can be accessed through ordinary Swiss bank accounts.

The approval authorizes a planned product; the fund has not yet begun trading. Investors will be able to allocate to Bitcoin through the fund from ordinary Swiss bank accounts, a point that broadens access to the product. BBIT’s expected November listing is the next step and would make it Switzerland’s first and Europe’s only spot Bitcoin ETF.