BIT Asset Management AG, a Zurich-based asset management subsidiary of Singapore-headquartered digital asset platform BIT, has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to launch the Bitcoin Fund ETF (ticker: BBIT). The fund will be Switzerland’s first exchange-traded fund to invest directly in bitcoin and is described by the company as Europe’s only spot bitcoin ETF.
The Bitcoin Fund ETF is expected to begin trading on SIX Swiss Exchange in November 2026. The approval represents a development in Switzerland’s regulated digital asset investment market, providing retail investors with access to bitcoin through a Swiss collective investment structure.
Unlike bitcoin exchange-traded products commonly available across Europe, which are generally structured as debt instruments, BBIT will operate as a Swiss collective investment scheme. The fund will hold bitcoin directly rather than using futures contracts or other derivatives to obtain exposure to the cryptocurrency.
Under this structure, the fund’s assets are legally segregated from those of the fund management company, providing investors with protections established under Switzerland’s collective investment regulations. The arrangement is designed to reduce certain issuer-related risks associated with debt-based investment products.
The fund will be available to retail investors in Switzerland, rather than being restricted exclusively to qualified or institutional investors. Investors will be able to access bitcoin exposure through conventional Swiss banking and brokerage accounts without needing to purchase and manage cryptocurrency directly.
BIT Asset Management intends to provide Swiss fund governance, independent custody arrangements, and daily transparency regarding the fund’s holdings.
The launch builds on developments in the United States, where spot bitcoin ETFs became available in January 2024. Those products, including BlackRock’s iShares Bitcoin Trust, established a regulated investment structure for gaining direct exposure to bitcoin through traditional brokerage platforms.
BBIT introduces a comparable investment approach under Swiss law, although its regulatory classification, investor protections, and operational requirements differ from those of U.S.-listed funds.
The fund has been approved under Switzerland’s regulatory category of other alternative investment funds with particular risk. It will invest exclusively in bitcoin, exposing investors to the cryptocurrency’s substantial price volatility.
According to the company’s disclosures, temporary borrowing may increase the fund’s total risk exposure to as much as 125% of its net asset value. Investors could potentially lose their entire investment, and the fund’s risk characteristics differ significantly from those of conventional securities investment funds.
The fund is approved for public offering in Switzerland only and is not being marketed to U.S. persons.
BIT Asset Management is a FINMA-regulated investment manager providing digital asset investment products, including regulated funds, exchange-traded products, actively managed certificates, and discretionary asset management services.
The company previously operated as Crypto Finance (Asset Management) AG before being acquired by BIT Group in 2024. It was subsequently renamed Matrixport Asset Management AG before adopting its current identity.
BIT Group, which was founded in 2019 as Matrixport, operates a digital asset platform offering trading, investment, payments, custody, and real-world asset tokenization services. The group maintains regulated operations across several international financial markets, including Switzerland, Singapore, Hong Kong, the United Kingdom, and the United States.
The approval of BBIT expands BIT Group’s regulated investment product offerings and reinforces its strategy of connecting traditional financial services with digital asset markets.
KEY QUOTES:
“Switzerland has established itself as a leading hub for digital assets, combining a strong financial sector, regulatory clarity and an innovative ecosystem. 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.”
John Ge, CEO Of BIT Group
“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. Investors can now access bitcoin through an ordinary Swiss bank account, with Swiss fund governance, independent custody and daily transparency on holdings.”
Dominik Oggenfuss, CEO Of BIT Asset Management
