BlockBeats reported on Oct. 20 that Switzerland’s Financial Market Supervisory Authority (FINMA) had approved the country’s first spot Bitcoin ETF aimed at retail investors.
Fund structure
The report said the product uses a regulated investment-fund structure rather than a debt security. That distinguishes it from existing Swiss exchange-traded products linked to Bitcoin, according to the flash.
Regulatory framework
BlockBeats said the ETF will face defined requirements for custody, operational risk management and disclosures. The flash attributed the approval to FINMA but did not include a direct link to a FINMA notice.
Source: BlockBeats flash.