Prior to FINMA's ETF approval on October 20, 2026, Swiss exchanges offered crypto exchange-traded products (ETPs), which are structured debt securities governed by exchange rules rather than Swiss investment fund law

From the articleFINMA approves Switzerland's first retail BTC ETF, waiving diversification rules for Bitcoin only - CryptopolitanAlso in Swiss Regulator Approves First Retail Fund That Holds Bitcoin Directly - Decrypt, Swiss regulator FINMA approves country's first spot bitcoin ETF for retail investors