Swiss Regulator Approves First Retail Fund That Holds Bitcoin Directly
Summary
FINMA approved Switzerland’s first retail fund investing directly in Bitcoin, classifying it as an alternative investment fund and waiving diversification rules because of Bitcoin’s trading history and volume. Unlike a previously approved crypto fund limited to qualified investors, the new fund can be offered to retail buyers, subject to custody, risk-disclosure and suitability safeguards. FINMA did not identify the issuer or provide a launch date; other Bitcoin fund applications are pending.
