BIT Receives FINMA Approval to Launch Switzerland's First Spot Bitcoin ETF

BIT's Swiss asset management subsidiary, BIT AM, has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to launch Switzerland's first Bitcoin Fund ETF (code: BBIT) that directly invests in Bitcoin, expected to be listed on the Swiss Stock Exchange in November. This ETF is the only spot Bitcoin ETF in Europe, utilizing a Swiss collective investment scheme structure with assets independently segregated. The fund is open to a wide range of investors, allowing convenient Bitcoin allocation through regular Swiss bank accounts, and is expected to attract significant traditional capital inflow.

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