FINMA approves Switzerland’s first retail Bitcoin ETF

The Swiss regulator waived diversification rules for a direct Bitcoin fund but attached custody safeguards and loss warnings Switzerland’s everyday investors can now buy a regulated fund that holds Bitcoin directly. On October 20, 2026, the Swiss Financial Market Supervisory Authority (FINMA) approved the country’s first retail Bitcoin exchange-traded fund. The fund falls into a specific legal category under Swiss law: an “other fund for alternative investments.” That label matters because it determines which rules the product has to follow. The headline concession is an exemption from standard risk-diversification rules.