Switzerland has cleared something new.
Its financial regulator, FINMA, approved the country's first spot Bitcoin ETF on 20 October. An ETF is a fund you can buy and sell on a stock exchange, much like a share. Spot here simply means this fund holds Bitcoin itself, rather than a bet on its price.
The fund is the Bitcoin Fund ETF, ticker BBIT, from BIT Asset Management. It is expected to start trading on SIX, Switzerland's main stock exchange, in November. The exact date has not been set yet.
For now, it is approved for public sale in Switzerland only. Banks and brokers abroad can reach it through SIX, but whether people elsewhere can buy it will depend on local rules.
One thing to keep in mind: FINMA itself warned that Bitcoin is still highly risky, even inside an approved fund, and people could lose a large part of their money.
What is still unknown is the exact listing date, and how quickly ordinary Swiss savers will actually be able to buy it through their usual bank or broker.
Would a regulated, stock-exchange fund like this make Bitcoin feel easier to understand — or does the risk warning matter more to you?
Its financial regulator, FINMA, approved the country's first spot Bitcoin ETF on 20 October. An ETF is a fund you can buy and sell on a stock exchange, much like a share. Spot here simply means this fund holds Bitcoin itself, rather than a bet on its price.
The fund is the Bitcoin Fund ETF, ticker BBIT, from BIT Asset Management. It is expected to start trading on SIX, Switzerland's main stock exchange, in November. The exact date has not been set yet.
For now, it is approved for public sale in Switzerland only. Banks and brokers abroad can reach it through SIX, but whether people elsewhere can buy it will depend on local rules.
One thing to keep in mind: FINMA itself warned that Bitcoin is still highly risky, even inside an approved fund, and people could lose a large part of their money.
What is still unknown is the exact listing date, and how quickly ordinary Swiss savers will actually be able to buy it through their usual bank or broker.
Would a regulated, stock-exchange fund like this make Bitcoin feel easier to understand — or does the risk warning matter more to you?
