Swiss Regulator Clears First Retail Fund to Hold Bitcoin Directly
Edited by Steinar Vigdel Kolnes, Editor, Oslo
FINMA has approved Switzerland’s first retail fund holding Bitcoin directly, waiving diversification rules while emphasizing custody and investor protections.
Switzerland’s financial regulator, FINMA, has approved the country’s first retail investment fund to hold Bitcoin directly, according to Decrypt.
The approval includes an exemption from diversification requirements, allowing the fund to take an approach that would otherwise fall outside those rules.
FINMA placed particular emphasis on custody arrangements and safeguards for investors as part of its decision. The diversification waiver did not remove those protections.
Source: Decrypt
