In January of last year, spot Bitcoin ETFs were launched on U.S. exchanges.
These are exchange-traded funds (ETFs) that directly hold BTC as collateral, thereby replicating its real-time price movement.
In reality, similar funds already existed before, especially in Europe, but although their operation is technically very similar, they are not ETFs (Exchange-Traded Funds) but ETPs (Exchange-Traded Products), and in particular, largely ETNs (Exchange-Traded Notes).
The difference between an ETF and an ETN is purely technical, as they are extremely similar financial instruments.
Spot Bitcoin ETFs
The most important feature of a spot Bitcoin ETF is that the fund directly purchases and holds BTC, rather than derivatives like futures contracts.
Previously, Bitcoin ETFs already existed in the U.S. markets, but they were not spot; instead, they were collateralized in futures contracts.
Spot ETFs, on the other hand, are able to perfectly replicate the price trend of BT
We współpracy z: https://en.cryptonomist.ch/2025/12/14/how-to-buy-spot-bitcoin-etfs/
