Switzerland Approves First Spot Bitcoin ETF for Retail Investors After Bending Its Rules

By October 20, 2026, FINMA, Switzerland’s Financial Market Supervisory Authority, authorized the country’s first retail-accessible spot Bitcoin fund and waived its diversification rule for the single-asset product. The regulator withheld the issuer’s name, but Zurich-based BIT Asset Management later claimed the approval and planned a November listing on SIX Swiss Exchange under ticker BBIT. FINMA cited Bitcoin’s long trading history and high volume to justify the exception. The decision goes beyond BIT’s 2021 crypto basket fund, which was limited to qualified investors; Swiss exchanges already list physically backed Bitcoin ETPs, but those are debt-like securities rather than collective investment funds. BIT has not disclosed the fund’s fee, custodian, or retail distribution partner.