Key Takeaways
- • FINMA has approved the Bitcoin Fund ETF (ticker BBIT), managed by BIT Asset Management AG, making it the first exchange-traded fund under Swiss law to invest directly in bitcoin and currently Europe's only spot bitcoin ETF, according to the company's announcement.
- • The fund is expected to begin trading on SIX Swiss Exchange in November 2026 and is open to retail investors in Switzerland, not only qualified investors.
- • Structured as a Swiss collective investment scheme rather than a debt-based exchange-traded product, the fund holds bitcoin directly with assets ring-fenced from the management company, eliminating the issuer risk associated with most European bitcoin ETPs.
- • The fund is classified as an "Other alternative investment fund" with particular risk, invests exclusively in bitcoin, and may borrow temporarily to a maximum of 125% of net asset value.
- • The launch is positioned by BIT Group as part of its continued international expansion and reflects Switzerland's reputation as a digital asset hub.
Summary
BIT Asset Management AG, the Zurich-based, wholly owned Swiss asset management subsidiary of BIT, announced on October 22, 2026 that the Swiss Financial Market Supervisory Authority (FINMA) has approved the Bitcoin Fund ETF (ticker: BBIT). According to the company, FINMA's own announcement confirms that the fund is the first exchange-traded fund in Switzerland to invest directly in bitcoin, and it is currently the only spot bitcoin ETF in Europe. The fund is expected to begin trading on SIX Swiss Exchange in November.
A spot bitcoin ETF holds the underlying asset directly rather than futures or derivatives and can be traded through an ordinary brokerage account. The company noted that this structure was used by US products such as BlackRock's iShares Bitcoin Trust (IBIT), which launched alongside ten other spot bitcoin ETFs in January 2024. By contrast, most bitcoin products currently listed in Europe are exchange-traded products (ETPs), which are debt instruments carrying issuer risk. BBIT is instead structured as a Swiss collective investment scheme, with assets held separately from those of the fund management company and ring-fenced for investors.
BIT Asset Management stated that investors gain direct bitcoin exposure through a FINMA-approved Swiss investment fund, with the regulatory oversight and investor protections of Switzerland's collective investment scheme framework, independent custody, and daily transparency on holdings. CEO Dominik Oggenfuss said investors can access bitcoin "through an ordinary Swiss bank account." John Ge, CEO of BIT Group, said Switzerland's financial sector, regulatory clarity and innovative ecosystem make it "a natural choice" for the group's international expansion, describing the launch as an important milestone.
The fund is classified under the Swiss regulatory category "Other alternative investment funds" with particular risk. The company's disclosures state that it invests exclusively in bitcoin, that its risk profile is not comparable to securities funds, and that temporary borrowing may raise total risk exposure to a maximum of 125% of net asset value. The fund is approved for public offering in Switzerland only and is not directed at persons in the EEA or UK.
BIT, founded in 2019 as Matrixport and headquartered in Singapore, operates trading, investment, payment, custody and tokenization services. BIT Asset Management, formerly Crypto Finance (Asset Management) AG, was acquired in full by the group in 2024 and is regulated by FINMA.
A spot bitcoin ETF holds the underlying asset directly rather than futures or derivatives and can be traded through an ordinary brokerage account. The company noted that this structure was used by US products such as BlackRock's iShares Bitcoin Trust (IBIT), which launched alongside ten other spot bitcoin ETFs in January 2024. By contrast, most bitcoin products currently listed in Europe are exchange-traded products (ETPs), which are debt instruments carrying issuer risk. BBIT is instead structured as a Swiss collective investment scheme, with assets held separately from those of the fund management company and ring-fenced for investors.
BIT Asset Management stated that investors gain direct bitcoin exposure through a FINMA-approved Swiss investment fund, with the regulatory oversight and investor protections of Switzerland's collective investment scheme framework, independent custody, and daily transparency on holdings. CEO Dominik Oggenfuss said investors can access bitcoin "through an ordinary Swiss bank account." John Ge, CEO of BIT Group, said Switzerland's financial sector, regulatory clarity and innovative ecosystem make it "a natural choice" for the group's international expansion, describing the launch as an important milestone.
The fund is classified under the Swiss regulatory category "Other alternative investment funds" with particular risk. The company's disclosures state that it invests exclusively in bitcoin, that its risk profile is not comparable to securities funds, and that temporary borrowing may raise total risk exposure to a maximum of 125% of net asset value. The fund is approved for public offering in Switzerland only and is not directed at persons in the EEA or UK.
BIT, founded in 2019 as Matrixport and headquartered in Singapore, operates trading, investment, payment, custody and tokenization services. BIT Asset Management, formerly Crypto Finance (Asset Management) AG, was acquired in full by the group in 2024 and is regulated by FINMA.
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