SwitzerlandA bitcoin fund will hold its coins apart from its manager.

Most European bitcoin products are debt notes, leaving holders with a claim against the issuer, BIT Asset Management says.

Switzerland’s financial regulator approved the fund on 20 October, exempting it from rules requiring funds to spread money across assets.

The regulator says the approval does not automatically clear funds holding ether or solana.

Trading on SIX Swiss Exchange begins in November, with the date not yet set.

How each outlet framed it
CoinDesk
explains the FINMA exemption from diversification rules and why the fund's bitcoin stays segregated from the manager's assets

Sources: CoinDesk