Switzerland’s financial regulator FINMA has authorized the country’s first publicly offered exchange-traded fund investing directly in Bitcoin under Swiss investment-fund law. The fund is categorized as an alternative investment fund and remains subject to particular risks, including custody, operational and market risks. FINMA granted an exemption from certain diversification requirements while emphasizing that Bitcoin’s market risk remains very high. The approval paves the way for a market launch, but the fund is neither Europe’s first Bitcoin-linked listed product nor a guarantee against portfolio, settlement or counterparty risks.
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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
