Switzerland approved its first Bitcoin fund that ordinary investors can buy today, and everyone’s sharing the news. But what people are saying is “another country has given it the green light.” That’s not what caught my attention.
What’s really interesting is the reason it was approved.
There’s an old rule for public funds: money has to be spread across a range of assets; you can’t put it all into one thing. It’s a basic investor protection. This time, the regulator specifically exempted this fund from that rule, allowing it to put everything into BTC.
The reason given was that BTC has been traded for long enough and its market is big enough.
That carries more weight than the approval itself. Approving a fund opens a door; waiving the diversification rule is an institutional-level acknowledgment that this asset is suitable to hold on its own. It used to be allowed only as a small part of a basket. Now it can be the whole basket.
The conditions are also spelled out clearly: custody must meet regulatory requirements, and buyers must be told about the risks of volatility and losses. The regulator isn’t giving it a green light with its eyes closed.
Switzerland also approved a fund in 2021, but it was only available to qualified investors—in other words, you had to be wealthy to buy in. This time, ordinary investors can get in too. That’s a significant change in the barrier to entry.
That said, don’t take this as a reason to buy today. Approval is one thing; when actual money flows in is another. There are several steps in between. And several other firms are still waiting on their applications, so we’ll see more news like this. It won’t be anything unusual.
My position on BTC hasn’t changed. 80,000 is still the line. This kind of news lays the groundwork for the long term; it doesn’t have much to do with today’s price moves. #瑞士批准首只比特币ETF
What’s really interesting is the reason it was approved.
There’s an old rule for public funds: money has to be spread across a range of assets; you can’t put it all into one thing. It’s a basic investor protection. This time, the regulator specifically exempted this fund from that rule, allowing it to put everything into BTC.
The reason given was that BTC has been traded for long enough and its market is big enough.
That carries more weight than the approval itself. Approving a fund opens a door; waiving the diversification rule is an institutional-level acknowledgment that this asset is suitable to hold on its own. It used to be allowed only as a small part of a basket. Now it can be the whole basket.
The conditions are also spelled out clearly: custody must meet regulatory requirements, and buyers must be told about the risks of volatility and losses. The regulator isn’t giving it a green light with its eyes closed.
Switzerland also approved a fund in 2021, but it was only available to qualified investors—in other words, you had to be wealthy to buy in. This time, ordinary investors can get in too. That’s a significant change in the barrier to entry.
That said, don’t take this as a reason to buy today. Approval is one thing; when actual money flows in is another. There are several steps in between. And several other firms are still waiting on their applications, so we’ll see more news like this. It won’t be anything unusual.
My position on BTC hasn’t changed. 80,000 is still the line. This kind of news lays the groundwork for the long term; it doesn’t have much to do with today’s price moves. #瑞士批准首只比特币ETF