FINMA approves Switzerland’s first Bitcoin ETF for retail investors

The Swiss Financial Market Supervisory Authority (FINMA) approved what it said is the country’s first Bitcoin exchange-traded fund (ETF) that invests directly in Bitcoin and is accessible to retail investors.

The financial regulator’s Tuesday announcement cited a “growing interest” in cryptocurrency investments, particularly Bitcoin (BTC).

While no fund issuer was identified by the regulator, it said multiple providers have submitted or announced Bitcoin ETF applications.

SIX Swiss Exchange announced in August 2025 that iShares would begin trading a Bitcoin exchange-traded product, fully backed by BTC held in cold storage by Coinbase Custody International Limited. Those ETPs are not subject to approval by FINMA, instead governed exclusively by the SIX Exchange Regulation, a FINMA spokesperson told Cointelegraph.

The approval clears a significant regulatory hurdle for the launch of Switzerland’s first retail-accessible ETF that invests directly in Bitcoin. The announcement did not specify a launch date.

In 2021, FINMA first authorized a fund for qualified investors that invests primarily in a basket of cryptocurrencies. The regulator said it granted an exemption from standard risk-diversification requirements, citing Bitcoin’s “long trading history and a particularly high trading volume” compared with other digital assets.