FINMA approves Switzerland's first Bitcoin ETF accessible to retail investors

The Swiss Financial Market Supervisory Authority approved the country's first Bitcoin ETF that invests directly in Bitcoin and is accessible to retail investors, citing growing interest in cryptocurrency. The approval follows multiple provider applications and comes after SIX Swiss Exchange announced in August 2025 that iShares would begin trading a Bitcoin product fully backed by BTC held in cold storage by Coinbase Custody. The regulator previously authorized a crypto fund for qualified investors in 2021.