According to CoinMeta, bit, a digital asset platform, and its wholly Swiss-owned asset management subsidiaries bit, asset, management, and ag have announced that they have received official approval from the Swiss Financial Markets Supervisory Authority (SFMS) to launch Switzerland's first spot Bitcoin fund that is directly invested in Bitcoin and open to both retail and institutional investors. This spot Bitcoin fund, ETF (code: BBIT), is expected to be listed for trading on the Swiss Stock Exchange (SIX) in November. Investors will be able to trade directly through their regular bank securities accounts and gain exposure to spot Bitcoin.