Key Takeaways
- • BIT Asset Management AG, the Zurich-based subsidiary of Singapore-headquartered digital asset platform BIT, received FINMA approval to launch the Bitcoin Fund ETF (ticker: BBIT), Switzerland's first exchange-traded fund to invest directly in bitcoin.
- • BBIT is structured as a Swiss collective investment scheme holding bitcoin directly rather than via futures or derivatives, with fund assets legally segregated from the management company, unlike debt-based bitcoin ETPs common across Europe.
- • The fund is expected to begin trading on SIX Swiss Exchange in November 2026 and will be available to retail investors in Switzerland through conventional banking and brokerage accounts.
- • The fund is approved under the "other alternative investment funds with particular risk" category and may borrow temporarily to raise total risk exposure to as much as 125% of net asset value.
- • The company describes BBIT as Europe's only spot bitcoin ETF and says it is approved for Swiss public offering only, not marketed to U.S. persons.
Summary
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). According to the company, the fund will be Switzerland's first exchange-traded fund to invest directly in bitcoin, and it describes the product as Europe's only spot bitcoin ETF. The fund is expected to begin trading on SIX Swiss Exchange in November 2026.
BBIT will operate as a Swiss collective investment scheme. The company contrasts this with bitcoin exchange-traded products commonly available across Europe, which are generally structured as debt instruments. The fund will hold bitcoin directly rather than using futures contracts or other derivatives. Its assets will be legally segregated from those of the fund management company, a protection the company says is designed to reduce certain issuer-related risks associated with debt-based products. The company also intends to provide Swiss fund governance, independent custody arrangements and daily transparency on holdings.
The fund will be available to retail investors in Switzerland, with access through conventional Swiss banking and brokerage accounts. The launch follows the U.S. spot bitcoin ETF market, where products including BlackRock's iShares Bitcoin Trust began trading in January 2024. The company notes that BBIT's 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 and will invest exclusively in bitcoin. According to the company's disclosures, temporary borrowing may increase total risk exposure to as much as 125% of net asset value. The company warns that investors could lose their entire investment. 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 offering regulated funds, exchange-traded products, actively managed certificates and discretionary asset management. The company was previously known as Crypto Finance (Asset Management) AG, was acquired by BIT Group in 2024, and was subsequently renamed Matrixport Asset Management AG before adopting its current name. BIT Group, founded in 2019 as Matrixport, operates trading, investment, payments, custody and real-world asset tokenization services with regulated operations in Switzerland, Singapore, Hong Kong, the United Kingdom and the United States. John Ge, CEO of BIT Group, said Switzerland was a natural choice for international expansion and that the launch reflects a long-term commitment to the Swiss market. Dominik Oggenfuss, CEO of BIT Asset Management, said the fund offers direct bitcoin exposure through a FINMA-approved Swiss investment fund with the oversight and investor protections of Switzerland's collective investment scheme framework.
BBIT will operate as a Swiss collective investment scheme. The company contrasts this with bitcoin exchange-traded products commonly available across Europe, which are generally structured as debt instruments. The fund will hold bitcoin directly rather than using futures contracts or other derivatives. Its assets will be legally segregated from those of the fund management company, a protection the company says is designed to reduce certain issuer-related risks associated with debt-based products. The company also intends to provide Swiss fund governance, independent custody arrangements and daily transparency on holdings.
The fund will be available to retail investors in Switzerland, with access through conventional Swiss banking and brokerage accounts. The launch follows the U.S. spot bitcoin ETF market, where products including BlackRock's iShares Bitcoin Trust began trading in January 2024. The company notes that BBIT's 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 and will invest exclusively in bitcoin. According to the company's disclosures, temporary borrowing may increase total risk exposure to as much as 125% of net asset value. The company warns that investors could lose their entire investment. 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 offering regulated funds, exchange-traded products, actively managed certificates and discretionary asset management. The company was previously known as Crypto Finance (Asset Management) AG, was acquired by BIT Group in 2024, and was subsequently renamed Matrixport Asset Management AG before adopting its current name. BIT Group, founded in 2019 as Matrixport, operates trading, investment, payments, custody and real-world asset tokenization services with regulated operations in Switzerland, Singapore, Hong Kong, the United Kingdom and the United States. John Ge, CEO of BIT Group, said Switzerland was a natural choice for international expansion and that the launch reflects a long-term commitment to the Swiss market. Dominik Oggenfuss, CEO of BIT Asset Management, said the fund offers direct bitcoin exposure through a FINMA-approved Swiss investment fund with the oversight and investor protections of Switzerland's collective investment scheme framework.
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