Switzerland’s financial regulator, the Swiss Financial Market Supervisory Authority (FINMA), approved the first retail exchange-traded fund established under Swiss law that invests directly in Bitcoin on Oct. 20, according to Techub News, citing NewsBTC. The product is classified as an alternative investment with specific risks, and the approval still requires the fund to meet defined custody and operational risk management standards. The decision applies to retail investors, setting it apart from a cryptocurrency basket fund approved in 2021 that was limited to qualified investors. The approval marks a regulatory distinction between products available to the broader public and those previously reserved for professional or qualified market participants.
Switzerland’s financial regulator, the Swiss Financial Market Supervisory Authority (FINMA), approved on Oct. 20 the first retail exchange-traded fund established under Swiss law that invests directly in Bitcoin, according to Techub News, citing NewsBTC.
The fund is classified as an alternative investment product with specific risks. Even after receiving approval, it must still comply with specific custody and operational risk management requirements.
The approval applies to retail investors. That sets it apart from a cryptocurrency basket fund approved in 2021 that was available only to qualified investors.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
