Bitcoin Spot ETF
Exchange-traded fund directly holding BTC — approved in the US in January 2024.
Bitcoin Spot ETF is an investment fund traded on traditional exchanges (NYSE, Nasdaq) that directly holds Bitcoin — providing BTC exposure without self-custody complexity.
What is Spot ETF (vs Futures ETF):
•Spot ETF: fund directly buys BTC, holds it
•Futures ETF: fund buys BTC futures contracts (not real BTC)
•ProShares BITO (2021) = futures ETF, approved before spot
January 11, 2024 — historic date:
•SEC approved 11 Spot Bitcoin ETFs
•Providers: BlackRock (IBIT), Fidelity (FBTC), ARK (ARKB), Bitwise (BITB), VanEck...
•BlackRock IBIT → $50+ billion in AUM in less than a year
Why it matters:
•Institutions can hold BTC through familiar structure
•Pension funds, endowments can allocate
•Removes barrier for retail (no crypto exchange, no wallet)
•"SEC approved" narrative confirmed — Bitcoin is legitimate asset
Ether ETF:
•Approved May 2024 by SEC
•Same providers, smaller initial inflow
Which ETF:
•Lowest fee: Bitwise (0.20%), Franklin (0.19%)
•Most liquidity: IBIT (BlackRock)
•No fee first 12 months: ARK, Bitwise (promotional)