Key Takeaways
- • FINMA approved Switzerland's first spot bitcoin ETF for retail buyers on October 20, according to The Block, and dropped the usual rule requiring spreading money across many assets.
- • The approval marks a shift from 2021, when the same regulator restricted a crypto fund to rich, qualified buyers only.
- • FINMA did not name the fund issuer, and other firms have already applied, per the source.
- • This article is a sponsored press release from Pepeto promoting its meme coin presale, which has reportedly raised more than $11.2 million; the claims are unverified and the promotional framing should be weighed accordingly.
- • Bitcoin Cash (about $276.66) and Uniswap (about $7.36) remain far below their peaks, with CME futures listed for both on October 19.
Summary
Switzerland's financial regulator FINMA approved the country's first spot bitcoin exchange-traded fund open to retail buyers on October 20, according to The Block, with Crypto Briefing reporting the same facts. The approval also removed the regulator's usual requirement that funds diversify across many assets. The fund sponsor was not named, and other issuers have reportedly already applied. In 2021, the same watchdog had permitted a crypto fund to serve only qualified, wealthy investors, so the move marks a notable expansion of access.
The source article is an openPR press release distributed by Pepeto, a meme coin presale project, and its promotional content is not independently verified. Pepeto states that SolidProof audited its code and completed KYC on its team, that it operates a live exchange, risk scanner and a bridge across five chains, and that its presale has raised more than $11.2 million at a token price of $0.0000001902. An audit is not a regulatory approval, and presales carry substantial risk.
The release also profiles two established tokens. Bitcoin Cash trades near $276.66 on CoinMarketCap, 93.6% below its December 2017 peak of $4,355.62. CME listed BCH futures on October 19, per Crypto Briefing, and BCH rose 18.3% over 30 days versus 6.5% for bitcoin, according to 24/7 Wall St. Uniswap trades at $7.36 on CoinMarketCap, 84% below its May 2021 peak of $44.97, after CME listed UNI futures on October 19. 24/7 Wall St reported UNI fell 20.8% over two weeks, and the protocol charges a 0.30% fee per trade.
The source article is an openPR press release distributed by Pepeto, a meme coin presale project, and its promotional content is not independently verified. Pepeto states that SolidProof audited its code and completed KYC on its team, that it operates a live exchange, risk scanner and a bridge across five chains, and that its presale has raised more than $11.2 million at a token price of $0.0000001902. An audit is not a regulatory approval, and presales carry substantial risk.
The release also profiles two established tokens. Bitcoin Cash trades near $276.66 on CoinMarketCap, 93.6% below its December 2017 peak of $4,355.62. CME listed BCH futures on October 19, per Crypto Briefing, and BCH rose 18.3% over 30 days versus 6.5% for bitcoin, according to 24/7 Wall St. Uniswap trades at $7.36 on CoinMarketCap, 84% below its May 2021 peak of $44.97, after CME listed UNI futures on October 19. 24/7 Wall St reported UNI fell 20.8% over two weeks, and the protocol charges a 0.30% fee per trade.
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