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Magyar29 Oct 2026
Switzerland's first spot bitcoin ETF, BBIT from BIT Asset Management, is expected to start trading on SIX Swiss Exchange in November, and foreign banks and brokers will be able to access it. Public sale is approved only in Switzerland, and FINMA says the approval does not automatically extend to ether or solana funds.
Regulation TradeReviewed News Desk
Switzerland’s first spot bitcoin exchange-traded fund will be open to banks and brokers outside the country when it starts trading on SIX Swiss Exchange in November, the exchange told CoinDesk. An exact listing date has not been set yet.
What FINMA approved
The Swiss Financial Market Supervisory Authority (FINMA) approved the Bitcoin Fund ETF, ticker BBIT, on October 20. It granted a rare exemption from the rule that investment funds must spread their money across different assets, so the fund can hold bitcoin only. A FINMA spokesperson said bitcoin’s long trading history and high trading volumes helped justify the decision, but stressed that the approval does not automatically open the door to ETFs holding other coins such as ether or solana. FINMA confirmed other companies have applied for or announced similar crypto funds, without saying how many.
According to issuer BIT Asset Management, most bitcoin products already traded in Europe are structured as debt, which means investors hold a claim against the issuing company. BBIT is a regulated investment fund instead, and its bitcoin is kept separate from the manager’s own assets, giving investors a different level of legal protection if the manager runs into trouble.
Who can buy it
Danielle Reischuk, senior ETF and ETP sales manager at SIX, said roughly 90 Swiss and foreign banks and brokers participate on the exchange. International brokers can trade the fund directly as approved participants or indirectly through an existing participant. Whether they can offer it to their own clients depends on the rules in those clients’ home countries, because BBIT is only approved for public sale in Switzerland. Even Swiss retail investors may have to wait until their bank or broker adds the security.
FINMA also said investors who buy through a broker without advice will not need a suitability check, though they must receive a risk warning. Banks giving advice or managing portfolios still have to check that the product fits the client. Under EU rules, conventional retail funds cannot invest directly in bitcoin, according to the European Systemic Risk Board, which makes the Swiss structure stand out in Europe.
What it means for traders
For European investors, BBIT could become a regulated route to bitcoin exposure without holding keys, but access will depend on local rules and on each broker’s setup, and no demand estimates have been published. Fund fees and spreads also matter. If you would rather hold or trade BTC directly, compare fees and licences in our crypto exchange comparison, check BingX (ranked number 1 in our tests) and OKX (number 2), and see how we test.
This article is for information only and is not investment advice.
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