BIT Asset Management announces Switzerland’s first Bitcoin ETF following FINMA approval
Our newly approved Bitcoin Fund ETF (“BBIT”), Switzerland’s first Bitcoin ETF, combines direct Bitcoin exposure with a Swiss-domiciled fund structure, Swiss custody and a planned listing on SIX Swiss Exchange. Trading is expected to begin within the next month.
BIT Asset Management has announced the forthcoming launch of the Bitcoin Fund ETF (BBIT), Switzerland’s first Bitcoin exchange-traded fund (ETF), following approval by the Swiss Financial Market Supervisory Authority FINMA. The fund will provide investors with direct exposure to Bitcoin through a Swiss-regulated investment fund. Trading on SIX Swiss Exchange is expected to begin within the next month.
Unlike the predominantly debt-structured Bitcoin exchange-traded products (ETPs) available in Switzerland to date, BBIT is structured as a Swiss collective investment scheme. The fund is physically backed by Bitcoin, with the underlying assets held in segregated cold storage at a Swiss bank.
Swiss from end to end
BBIT brings together Swiss fund administration, asset management, custody and exchange listing within Switzerland’s established financial and regulatory framework. This end-to-end Swiss structure is a central feature of the product, combining direct exposure to Bitcoin with the legal and regulatory protections applicable to Swiss collective investment schemes.
«Where assets are held and under which jurisdiction they are governed is becoming increasingly important to investors,» says Dominik Oggenfuss, CEO of BIT Asset Management. «With BBIT, we set out to create a truly Swiss Bitcoin ETF, from fund management and custody to its listing on SIX Swiss Exchange. Investors gain direct exposure to Bitcoin through a FINMA-approved Swiss investment fund, benefiting from the regulatory oversight and investor protections of Switzerland's established collective investment scheme framework.»
The ETF follows a passive investment approach, providing direct Bitcoin exposure without derivatives or securities lending. Investors will be able to access the fund through existing securities accounts. BIT Asset Management aims to offer internationally competitive fees, with further details to be announced at launch.
A milestone for Switzerland’s financial market
FINMA’s approval marks a further step in the development of Switzerland’s regulated digital asset market. The regulator had previously approved a Swiss crypto fund for qualified investors in 2021. With the approval of BBIT, Switzerland now has its first exchange-traded fund investing directly in Bitcoin under the Swiss collective investment scheme framework.
In its announcement, FINMA highlighted Bitcoin’s comparatively long trading history and high trading volume as grounds for allowing an exception to the applicable risk-diversification requirements. At the same time, the regulator emphasised the importance of custody safeguards, transparency and investor protection.
For BIT Asset Management, the approval builds on its longstanding experience in digital assets. The company’s roots go back to Crypto Finance, whose team was involved in launching the first crypto fund approved under Swiss law in 2021. Today, BIT Asset Management combines this expertise with the international capabilities of BIT Group.
«Switzerland has established itself as a leading hub for digital assets, combining a strong financial sector, regulatory clarity and an innovative ecosystem,» says John Ge, Co-Founder of BIT Group. «For BIT Group, this makes Switzerland a natural choice for our continued international expansion. Launching the first Swiss Bitcoin ETF is an important milestone for us, reflecting our long-term commitment to the Swiss market and our ambition to bridge traditional finance with emerging technologies.»
Trading expected to begin within the next month
BBIT is expected to begin trading on SIX Swiss Exchange within the next month. Further information, including the exact trading date, securities identification details and fees, will be communicated ahead of the launch.
The fund will be offered exclusively in Switzerland and will not be available to US persons.
About BIT Asset Management AG
BIT Asset Management AG is a FINMA-supervised asset manager based in Zurich. The company serves professional and institutional investors, combining Swiss investment discipline with research-driven asset management. Its focus is on tech-native markets at the intersection of finance and technology. BIT Asset Management is part of the internationally active BIT Group. Founded in 2019, the Group operates in trading, custody, financing, asset management and digital asset infrastructure.
For questions or inquiries, do not hesitate to contact us at:
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The Bitcoin Fund ETF is a contractual investment fund governed by Swiss law, classified under the category “Other alternative investment funds” and carrying particular risk, which invests exclusively in Bitcoin, as described in Section 1.11 of the prospectus and in § 8 of the fund contract. Due to the nature of its investments, the risks associated with the Bitcoin Fund ETF are not comparable to those of securities funds. The fund will make investments without leverage, but may temporarily borrow up to 25% in the event of liquidity shortages, in particular to service redemptions. Consequently, the total risk exposure of the investments will amount to a maximum of 125% of the net asset value. Nevertheless, the volatility of Bitcoin is very high, and the purchase and sale of Bitcoins entail greater settlement and counterparty risks than traditional investments. Investors are expressly drawn to the risk warnings contained in the prospectus. Persons investing in the fund must be prepared and able to accept capital losses, including a total loss.
