[Swiss Financial Market Supervisory Authority Approves First Bitcoin ETF for Retail Investors] Deep Tide TechFlow reports that on October 20, the Swiss Financial Market Supervisory Authority (FINMA) announced its first approval of an exchange-traded fund (ETF) designed for retail investors to directly invest in Bitcoin. Under Swiss law, this product is classified as a "special risk other alternative investment fund." Currently, other fund management institutions have also submitted or announced plans to apply for Bitcoin ETFs. FINMA stated that, given Bitcoin's long trading history and high trading volume, this approval allows the fund to be exempt from certain risk diversification requirements. However, regulatory authorities are still required to take measures in accordance with relevant guidelines to mitigate operational and custodial risks, and comply with FinSA rules during the sales process, including clear disclosure of Bitcoin price volatility and principal loss risks. FINMA also emphasized that even when investing through an approved ETF, the market risk of Bitcoin remains high, and investors may still suffer significant losses due to the high volatility of crypto assets.