21 BTCSpot bitcoin ETF
A spot bitcoin ETF is a fund traded on a stock exchange that holds real bitcoin. It lets people get bitcoin price exposure through an ordinary brokerage account, without holding keys themselves.
Short definition
An exchange-traded fund that holds real bitcoin; you own fund shares, not coins.
United States
After a decade of rejections the US SEC approved the listing of spot bitcoin ETFs on 10 January 2024, and trading began the next day. Grayscale's GBTC converted from a trust into an ETF the same day and saw large outflows, while BlackRock's IBIT and Fidelity's FBTC gathered most of the new money.
Each fund buys and holds bitcoin with a custodian (most use Coinbase Custody). Daily net flows show how much money came in or went out; the figures here come from Farside Investors.
Asia
Hong Kong spot bitcoin ETFs started trading on 30 April 2024. In Thailand the SEC's rules for locally listed bitcoin and ether ETFs take effect on 16 October 2026; no Thai bitcoin ETF is approved yet, and three Thai funds invest in US spot ETFs for institutional and wealthy investors only.
ETF or self-custody
An ETF share is a claim on a fund, not bitcoin you control: you cannot send it on-chain, and it trades only during market hours. Holding your own keys (see hardware wallet) avoids those limits but makes you responsible for security.
From the Bitcoin Museum
US spot bitcoin ETFs approved (10 Jan 2024): The SEC approves the listing and trading of spot bitcoin exchange-traded products; trading begins the next day.
See also
- iShares Bitcoin Trust (IBIT)iShares Bitcoin Trust, ticker IBIT, is a US spot bitcoin ETF run by BlackRock. It holds bitcoin directly; investors buy shares through a brokerage account. It became the largest spot bitcoin ETF within months of its January 2024 launch.
- Fidelity Wise Origin Bitcoin Fund (FBTC)Fidelity Wise Origin Bitcoin Fund, ticker FBTC, is a US spot bitcoin ETF run by Fidelity. It holds bitcoin directly; investors buy shares through a brokerage account.
- Grayscale Bitcoin Trust (GBTC)Grayscale Bitcoin Trust, ticker GBTC, is a US spot bitcoin ETF run by Grayscale. It holds bitcoin directly; investors buy shares through a brokerage account. It started in 2013 as a trust and converted to an ETF on 11 January 2024, after which it saw heavy outflows.
- Strategy (MSTR)Strategy, formerly MicroStrategy, is a US software company that turned itself into the largest corporate holder of bitcoin. It has been buying since August 2020, funded mostly by selling shares and bonds.
- Hardware walletA hardware wallet is a small device that keeps your private keys offline and signs transactions inside itself. Even if your computer is infected, the keys never leave the device.
References
- SEC Chair Gensler: statement on spot bitcoin ETPs (10 Jan 2024) sec.gov
- Farside Investors: bitcoin ETF flows farside.co.uk
- bitcointreasuries.net: ETFs and funds bitcointreasuries.net