Swiss regulator FINMA approves country’s first spot bitcoin ETF for retail investors

Switzerland’s financial regulator FINMA has approved the country’s first bitcoin exchange-traded fund, or ETF, available to retail investors. An ETF is a type of fund traded on an exchange, while earlier products were cryptocurrency exchange-traded products, or ETPs, also listed on exchanges. The approval also follows a bitcoin fund that was limited to qualified investors, a category of investors that meets specified regulatory standards and is distinct from retail investors.