[Swiss FINMA Approves First Bitcoin ETF for Retail Investors, Issuer Not Disclosed] According to a report by Jinse Finance, the Swiss Financial Market Supervisory Authority (FINMA) has approved the country's first Bitcoin ETF targeted at retail investors. The product is classified under Swiss law as an 'other alternative investment fund' and is labeled as carrying special risks. The fund is a single-asset product, with all funds allocated to Bitcoin. As a result, FINMA had to grant an exemption from its risk diversification rules, citing Bitcoin's long trading history and extremely high trading volume. In terms of asset custody, participating institutions are required to implement measures to mitigate operational and custodial risks, following standards outlined in FINMA's regulatory notice issued on January 12, 2026. This notice mandates that clients' crypto assets must not be included in bankruptcy assets in the event of a custodian's insolvency. Additionally, the sales process must comply with Fidleg's conduct rules to provide greater investor protection compared to directly purchasing cryptocurrencies. The fund documentation must also explicitly highlight the associated risks.