FINMA Approves Switzerland's First Spot Bitcoin ETF BBIT for November SIX Trading
FINMA approved the BBIT Bitcoin Fund ETF on October 20, clearing a November listing on the SIX Swiss Exchange. The regulator granted an exception to Switzerland's diversification rule, letting the fund hold Bitcoin exclusively, citing its long trading history and high market cap. Holdings are kept separate from manager assets, and about 90 banks and brokers on SIX can access it.