FINMA’s approval of Switzerland’s first exchange-traded public fund investing directly in Bitcoin is confirmed. It is a Swiss-law fund in the “other funds for alternative investments with special risk” category; FINMA says other providers have also applied or announced applications. FINMA announcement

FINMA’s approval of Switzerland’s first exchange-traded public fund investing directly in Bitcoin is confirmed. It is a Swiss-law fund in the “other funds for alternative investments with special risk” category; FINMA says other providers have also applied or announced applications. FINMA announcement

The announcement does not name the approved fund’s issuer, ticker, or listing date. FINMA allowed an exception to risk-diversification rules, citing Bitcoin’s long trading history and high trading volume. It also requires supervised institutions to reduce operational and custody risks and says Bitcoin investments remain highly risky, even through the approved ETF. FINMA previously approved a crypto fund in 2021 for qualified investors only. FINMA announcement

BitcoinArchive’s post says “3.5 million potential investors” and “Average $750k per individual,” but the post and search results provide no supporting source or calculation. BitcoinArchive post The sources do not substantiate those figures.