Switzerland’s first spot Bitcoin exchange-traded fund, the Bitcoin Fund ETF (BBIT), is expected to begin trading on SIX Swiss Exchange in November, according to CoinDesk. SIX said the exact listing date has not yet been set. Overseas banks and brokers will be able to access the product either directly by becoming approved trading participants or indirectly through existing participants. Still, the fund is currently authorized for public sale only in Switzerland, and whether clients outside the country can buy it will depend on local regulations. CoinDesk also reported that the Swiss Financial Market Supervisory Authority, or FINMA, approved the fund on Oct. 20 and granted it an exemption from diversification requirements, allowing it to invest entirely in Bitcoin. FINMA said the approval should not be read as an automatic green light for ETFs tied to other crypto assets such as Ethereum or Solana.
According to CoinDesk, SIX Swiss Exchange said Switzerland’s first spot Bitcoin exchange-traded fund, the Bitcoin Fund ETF (BBIT), is expected to begin trading in November. The exact date has not been determined.
Overseas banks and brokers will be able to access the fund either directly as approved trading participants or indirectly through existing participants. The fund is currently cleared for public sale only in Switzerland, and whether clients outside the country can buy it will depend on local rules.
CoinDesk reported that the Swiss Financial Market Supervisory Authority, or FINMA, approved the fund on Oct. 20 and exempted it from diversification requirements, allowing it to invest entirely in Bitcoin. FINMA also said the approval does not mean ETFs linked to other crypto assets, including Ethereum and Solana, will automatically be approved.
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