Switzerland Approves Its First Bitcoin ETF in Major Retail Crypto Milestone

Switzerland’s Financial Market Supervisory Authority (FINMA) announced earlier today that it approved Switzerland’s first retail Bitcoin exchange-traded fund, which invests directly in Bitcoin and follows a crypto fund it authorized for qualified investors five years ago. FINMA said Bitcoin’s long trading record and high volume justified an exception from standard risk-diversification requirements for the fund. It required supervised institutions launching such products to reduce operational and custody risks, and sellers to follow the Financial Services Act, including volatility and loss warnings and suitability checks. The regulator warned the asset remains highly risky and volatile and that losses could be substantial, while noting the US has over a dozen Bitcoin ETFs holding over $57 billion less than three years after launch.