Glossary
Bitcoin ETF
An exchange-traded fund that holds physical bitcoin and tracks its spot price — approved by the US SEC in January 2024 after a decade of rejected applications.
A spot Bitcoin ETF holds physical BTC in qualified custody and issues shares that trade on a traditional stock exchange. Holders get Bitcoin price exposure without managing wallets, custody, or exchange accounts.
The US SEC approved 11 spot Bitcoin ETFs on January 10, 2024 — including BlackRock's IBIT, Fidelity's FBTC, Grayscale's GBTC (converted from a trust), and others. Combined inflows exceeded $50B in the first year, making them the fastest-growing ETF launches in history. Hong Kong and several other jurisdictions have since approved their own spot Bitcoin products.