The Swiss Financial Market Supervisory Authority (FINMA) approved the country’s first Bitcoin exchange-traded fund (ETF) accessible to retail investors. The regulator cited growing interest in cryptocurrency investments and said multiple fund providers have submitted Bitcoin ETF applications. SIX Swiss Exchange announced in August 2025 that iShares would begin trading a Bitcoin exchange-traded product fully backed by BTC held in cold storage by Coinbase Custody International Limited. Switzerland is regarded as one of the most crypto-friendly European countries, with the city of Lugano adopting Bitcoin and tether USDt payments for all municipal fees in 2023.
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