Switzerland’s FINMA Lets Retail Investors Into a Bitcoin-Only Fund for the First Time

Switzerland’s financial markets regulator has approved the country’s first exchange-traded fund that holds bitcoin directly, and it is open to retail investors. The Swiss Financial Market Supervisory Authority (FINMA) announced the decision on Oct. 20, saying it had seen growing interest in crypto investments, especially bitcoin. FINMA did not name the fund, its issuer, where it will list, or when trading will begin. The regulator said other fund providers have also filed or announced plans to file for bitcoin ETFs of their own. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . An Exemption for Bitcoin Under Swiss law, the product is classed as an “other fund for alternative investments” carrying a specific risk.

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