FINMA: green light for Switzerland’s first bitcoin ETF
Keystone-SDA
The Swiss Financial Market Supervisory Authority (FINMA) has approved Switzerland’s first bitcoin Exchange-Traded Fund (ETF).
The regulator has approved the first publicly traded fund to invest directly in the cryptocurrency, emphasising that investor protection is a priority.
Back in 2021, FINMA had already authorised a fund for qualified investors comprising crypto assets. There is now a move towards opening this up to the general public, as explained in a press release issued today.
Furthermore, there are already other applicants who have submitted or announced bids to create ETFs.
Regulators advise that investments in bitcoin, even through an ETF approved by FINMA, carry a very high risk due to the significant price fluctuations to which cryptocurrencies are exposed. The capital invested could therefore suffer a considerable loss in value.
“This aspect must be taken into account when making an investment decision, particularly with regard to the amount invested,” said FINMA.
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Translated from German, reviewed by an English Department journalist.
