Knowledge Popularization Lesson Six

Bitcoin ETF (BTC ETF) is an investment product that allows investors to indirectly invest in Bitcoin through traditional stock exchanges (such as NASDAQ or NYSE) without directly holding Bitcoin. It provides ordinary investors with a convenient way to participate in Bitcoin price fluctuations in a regulated market.

Bitcoin ETFs are mainly divided into two types:

Spot Bitcoin ETF

The issuer directly holds real Bitcoin assets.

Bitcoin is usually held by third-party custodians (such as Coinbase).

The price directly reflects the real-time market price of Bitcoin.

Bitcoin Futures ETF

Does not hold actual Bitcoin but invests in Bitcoin futures contracts.

Due to factors such as price fluctuations in the futures market or contract rollovers, the price may not fully track the spot price of Bitcoin.

Although the Bitcoin spot ETF was listed two years later than the futures ETF, its asset size has significantly surpassed that of the futures ETF. Today, when mentioning Bitcoin ETFs, it is typically assumed to refer to the spot ETF.

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