Switzerland Spot Bitcoin ETF Issuer Named as BIT Asset Management
BTC when published $81,849Now $80,595 ▼ −1.53% since it was published
Switzerland’s first spot Bitcoin exchange-traded fund for retail investors is expected to begin trading next month. The fund is the first in the country approved to invest only in Bitcoin. The Swiss Financial Market Supervisory Authority, known as FINMA, announced the approval on Tuesday. The regulator did not name the issuer at that time. On Thursday, BIT Asset Management said it was the company behind the product. It said its Bitcoin Fund ETF is expected to begin trading on SIX Swiss Exchange in November. The Bitcoin Fund ETF holds Bitcoin directly. This means the fund owns the actual cryptocurrency instead of tracking its price through other products. The fund is approved for public offering in Switzerland only. It is not being offered to the public in other countries.
First reported by Blockonomi. This page is a short excerpt; the full text is theirs.
