BIT AM, BIT’s Swiss asset management subsidiary, has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to launch Switzerland’s first Bitcoin Fund ETF to invest directly in Bitcoin. It plans to list the ETF on the SIX Swiss Exchange in November. The fund is structured as a Swiss collective investment scheme with segregated assets, is open to a broad range of investors, and allows them to gain exposure to Bitcoin through ordinary Swiss bank accounts.

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