By Isaac • October 20, 2026 3:18 pm •
Switzerland has opened a new regulated door to Bitcoin for ordinary investors.
The Swiss Financial Market Supervisory Authority, better known as FINMA, announced Tuesday that it approved the country’s first public fund that invests directly in Bitcoin and can be offered to retail investors. That is a different structure from the crypto exchange-traded products Swiss markets have hosted for years.
The distinction matters. This is a Swiss collective investment fund built to hold Bitcoin directly rather than a debt security that tracks its price.
FINMA classified it as an “other fund for alternative investments” carrying particular risk. The regulator granted an exception to ordinary diversification rules because Bitcoin has a relatively long trading history and deep
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