Swiss financial regulator FINMA has approved the country’s first bitcoin exchange-traded fund (ETF) for retail investors. This decision follows a growing interest from Swiss citizens in cryptocurrencies, particularly bitcoin. Due to bitcoin’s long trading history and particularly high trading volume compared to other cryptocurrencies, FINMA has granted an exemption from the usual risk diversification rules. The regulator nonetheless emphasized that investments in bitcoin, even through an approved ETF, remain highly risky. The product will be launched by an asset manager or bank that has not yet been disclosed.
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