INTEL: Overseas banks and brokers can access Switzerland’s first spot Bitcoin ETF via SIX
SIX Swiss Exchange says overseas banks and brokers will be able to trade Switzerland’s first spot Bitcoin ETF, the Bitcoin Fund ETF (ticker BBIT), which it expects to start trading in November. No exact date has been set.
According to SIX, foreign institutions can connect in two ways: directly, as approved trading participants on the exchange, or indirectly, through existing trading participants.
Access to the exchange does not mean access for foreign investors. The fund is currently approved only for public sale in Switzerland, and whether clients abroad can buy it depends on local regulations in their own jurisdictions.
FINMA approval and the diversification waiver
Switzerland’s financial regulator FINMA approved the fund on October 20. It waived the diversification requirement that normally applies, which allows the fund to hold bitcoin exclusively.
FINMA also addressed whether other crypto ETFs could follow. The regulator said the approval does not mean ETFs tracking ether, Solana or other crypto assets will be approved automatically.
The launch date, the final list of participating foreign institutions and any cross-border sales approvals have not been announced.
