Bitcoin, the pioneer of the cryptocurrency world, has seen tremendous growth in the past decade. Its widespread adoption, combined with increasing institutional interest, has driven the demand for investment vehicles that allow exposure to this digital asset.
Bitcoin Exchange-Traded Funds (ETFs) emerged as one such popular vehicle, providing investors a regulated and more accessible way to invest in Bitcoin. This article will explore what Bitcoin ETFs are, their advantages and disadvantages, and some popular examples of Spot, Futures and other Bitcoin ETFs available in the market.
Updated Feb 2024.
NEW* List of US Approved Bitcoin ETFs
| BITCOIN ETF NAME | TICKER | FEE | EXCHANGE |
| ARK Invest / 21 Shares | ARKB | 0.21% | CBOE |
| Franklin Templeton | EZBC | 0.29% | CBOE |
| Invesco / Galaxy | BTCO | 0.39% | CBOE |
| WisdomTree | BTCW | 0.30% | CBOE |
| BlackRock | IBIT | 0.25% | NASDAQ |
| Grayscale | GBTC | 1.50% | NYSE |
| Hashdex | DEFI | 0.90% | NYSE |
| Valkyrie | BRRR | 0.49% | NASDAQ |
| VanEck | HODL | 0.25% | CBOE |
| Fidelity | FBTC | 0.25% | CBOE |
| Bitwise | BITB | 0.20% | NYSE |
Article Summary
- List of US Approved Bitcoin ETFs
- Largest Bitcoin ETFs List
- Discusses Bitcoin ETFs, which are investment funds that track the performance of Bitcoin, providing investors exposure to the digital asset without directly owning it.
- List of Bitcoin ETFs
- Spot Bitcoin ETFs in Canada
- Advantages of Bitcoin ETFs, including simplified investment processes, enhanced liquidity, diversification, and regulatory oversight, as well as their disadvantages.
- Step-by-step guide on how to invest in Bitcoin ETFs and highlights some popular Bitcoin ETFs available in the market
- The current state of Bitcoin ETFs in the United States.
- List of US Financial Funds That Have Filed for a Spot BITCOIN ETF
Updated List of Bitcoin ETFs (Feb 2024)
| Fund Name | Ticker Symbol | Traded Exchange | Country | Bitcoin Holdings |
| ProShares Bitcoin Strategy ETF | BITO | NYSE | USA | Btc Futures |
| Valkyrie Bitcoin Futures Strategy ETF | BTF | Nasdaq | USA | Btc Futures |
| ARK Invest / 21 Shares | ARKB | CBOE | USA | Physical Spot Btc |
| Franklin Templeton | EZBC | CBOE | USA | Physical Spot Btc |
| Invesco / Galaxy | BTCO | CBOE | USA | Physical Spot Btc |
| WisdomTree | BTCW | CBOE | USA | Physical Spot Btc |
| BlackRock | IBIT | NASDAQ | USA | Physical Spot Btc |
| Grayscale | GBTC | NYSE | USA | Physical Spot Btc |
| Hashdex | DEFI | NYSE | USA | Physical Spot Btc |
| Valkyrie | BRRR | NASDAQ | USA | Physical Spot Btc |
| VanEck | HODL | CBOE | USA | Physical Spot Btc |
| Fidelity | FBTC | CBOE | USA | Physical Spot Btc |
| Bitwise | BITB | NYSE | USA | Physical Spot Btc |
| Jacobi FT Wilshire Bitcoin ETF | BCOIN | Euronext Amsterdam | Europe | Physical Spot Btc |
| Purpose Bitcoin ETF | BTCC | TSX | Canada | Physical Spot Btc |
| Evolve Bitcoin ETF | EBIT | TSX | Canada | Physical Spot Btc |
| 3iQ CoinShares Bitcoin ETF | BTCQ | TSX | Canada | Physical Spot Btc |
| Fidelity Advantage Bitcoin ETF | FBTC | TSX | Canada | Physical Spot Btc |
| CI Galaxy Bitcoin ETF | BTCX | TSX | Canada | Physical Spot Btc |
| Purpose Bitcoin Yield ETF | BTCY | TSX | Canada | Covered call |
List of Aproved Spot Bitcoin ETFs USA
| BITCOIN ETF NAME | TICKER | FEE | EXCHANGE |
| ARK Invest / 21 Shares | ARKB | 0.21% | CBOE |
| Franklin Templeton | EZBC | 0.29% | CBOE |
| Invesco / Galaxy | BTCO | 0.39% | CBOE |
| WisdomTree | BTCW | 0.30% | CBOE |
| BlackRock | IBIT | 0.25% | NASDAQ |
| Grayscale | GBTC | 1.50% | NYSE |
| Hashdex | DEFI | 0.90% | NYSE |
| Valkyrie | BRRR | 0.49% | NASDAQ |
| VanEck | HODL | 0.25% | CBOE |
| Fidelity | FBTC | 0.25% | CBOE |
| Bitwise | BITB | 0.20% | NYSE |
What are Bitcoin ETFs?
A Bitcoin ETF is an investment fund that seeks to track the performance of Bitcoin by holding either the digital asset itself or investing in Bitcoin-related financial instruments like futures contracts.
These ETFs are traded on major stock exchanges, allowing investors to buy and sell shares representing a portion of the fund’s Bitcoin holdings.
By investing in a Bitcoin ETF, investors can gain exposure to the price of Bitcoin without directly owning or managing the cryptocurrency.
Largest Bitcoin ETFs List
List of the largest Bitcoin ETFS in the USA. Highest value/ assets under management (AUM) Bitcoin ETFs. Grayscale Bitcoin has the largest AUM/Value of bitcoin holdings at around 20.4 Billion Dollars worth (as of Feb 24 2024).
| ETF Name | Fee | Ticker | $ Value/AUM |
| ARK 21Shares Bitcoin | 0.21 % | ARKB | $1,574,880,000 |
| Bitwise Bitcoin ETF | 0.20 % | BITB | $1,179,018,000 |
| BlackRock iShares Bitcoin | 0.25 % | IBIT | $6,641,730,000 |
| Fidelity WiseOrigin Bitcoin | 0.25 % | FBTC | $4,726,323,000 |
| Franklin Bitcoin ETF | 0.19 % | EZBC | $100,572,000 |
| Invesco Galaxy Bitcoin | 0.25 % | BTCO | $314,568,000 |
| Valkyrie Bitcoin Fund | 0.25 % | BRRR | $158,406,000 |
| VanEck Bitcoin Trust | 0.25 % | HODL | $201,960,000 |
| Wisdom Tree Bitcoin | 0.30 % | BTCW | $35,190,000 |
| Grayscale Bitcoin | 1.50 % | GBTC | $22,670,622,000 |
Popular Bitcoin ETFs
Purpose Bitcoin ETF (BTCC): Launched in February 2021, it was the world’s first Bitcoin ETF. It seeks to replicate the performance of the price of Bitcoin, minus fees and expenses, and is listed on the Toronto Stock Exchange (TSX).
Grayscale Bitcoin Trust (GBTC): GBTC is an investment product that provides exposure to Bitcoin through a traditional investment vehicle. It is now a ETF trading on the NYSE exchange in the USA. GBTC is the largest bitcoin spot bitcoin ETF by assets owned.
ProShares Bitcoin Strategy ETF (BITO): This US-based actively managed ETF provides exposure to Bitcoin by investing in Bitcoin futures contracts. It seeks to achieve its investment objective by investing in Bitcoin futures contracts, pooled investment vehicles, and exchange-traded products that provide exposure to Bitcoin.
Evolve Bitcoin ETF (EBIT): Another Bitcoin ETF listed on the Toronto Stock Exchange (TSX), which aims to provide investors with exposure to the daily price movements of Bitcoin in U.S. dollars.
Broker name | Wealthsimple |
| Fees per stock trade | $0.00, Wealthsimple Trade review |
| Tradeable assets | Common stocks and ETFs |
| Trading platforms | IOS & Andriod App |
| Min deposit | $0.00 |
| Available exchanges | TSX, TSXV, NASDAQ |
Advantages of Bitcoin ETFs
Simplified investment process: Bitcoin ETFs allow investors to gain exposure to the price of Bitcoin without needing to create a digital wallet, manage private keys, or navigate the complexities of the cryptocurrency ecosystem.
Enhanced liquidity: ETFs are traded on major stock exchanges, providing better liquidity than direct investments in cryptocurrencies, which can sometimes be illiquid and subject to high volatility.
Diversification: Bitcoin ETFs offer investors an opportunity to diversify their portfolio by adding a digital asset class that may not be correlated with traditional asset classes like stocks and bonds.
Regulatory oversight: ETFs are subject to regulatory oversight, which can offer investors a sense of security and trust. This oversight can also minimize the risk of fraud and market manipulation that may be more prevalent in unregulated cryptocurrency markets.
Disadvantages of Bitcoin ETFs
Fees and expenses: Bitcoin ETFs charge management fees and other expenses that can reduce the potential returns on investment compared to holding Bitcoin directly.
Tracking error: ETFs may not always perfectly track the price of Bitcoin, leading to discrepancies between the fund’s performance and the actual price of the underlying asset.
Best Traded Spot Bitcoin ETF List 2024
| Fund Name | ARK Invest / 21 Shares |
| Ticker Symbol | ARKB |
| Traded Exchange | CBOE |
| Country | USA |
| Holding Type | Physical BTC |
| Fund Name | Grayscale Bitcoin Trust |
| Ticker Symbol | GBTC |
| Traded Exchange | NYSE |
| Country | USA |
| Holding Type | Physical BTC |
| Fund Name | Purpose Bitcoin ETF |
| Ticker Symbol | BTCC |
| Traded Exchange | TSX |
| Country | Canada |
| Holding Type | Physical BTC |
| Fund Name | Jacobi FT Wilshire Bitcoin ETF |
| Ticker Symbol | BCOIN |
| Traded Exchange | Euronext – Amsterdam |
| Country | Europe |
| Holding Type | Physical BTC |
Best Traded Bitcoin Futures ETF List 2024
| Fund Name | Bitcoin Strategy ETF |
| Ticker Symbol | BITO |
| Traded Exchange | NYSE |
| Country | USA |
| Holding Type | BTC Futures |
| Fund Name | Valkyrie Bitcoin Futures Strategy ETF |
| Ticker Symbol | BTF |
| Traded Exchange | Nasdaq |
| Country | USA |
| Holding Type | BTC Futures |
Best Bitcoin ETF For US Investors
| Fund Name | ARK Invest / 21 Shares |
| Ticker Symbol | ARKB |
| Traded Exchange | CBOE |
| Country | USA |
| Holding Type | Physical BTC |
| Fund Name | Grayscale Bitcoin Trust |
| Ticker Symbol | GBTC |
| Traded Exchange | NYSE |
| Country | USA |
| Holding Type | Physical BTC |
How To Invest In Bitcoin ETF's
Investing in Bitcoin ETFs can be a relatively simple process, especially for those who already have experience with traditional stock trading. Here is a detailed step-by-step guide on how to invest in Bitcoin ETFs:
Research: Before investing in any financial product, it’s essential to conduct thorough research. Start by understanding what Bitcoin ETFs are, their advantages and disadvantages, and the different options available in the market. Evaluate their past performance, management fees, and other relevant factors that may impact your investment. Keep in mind that past performance is not a guarantee of future results.
Open a brokerage account: To trade Bitcoin ETFs listed on major stock exchanges, you’ll need a brokerage account. If you don’t already have one, research different brokerages to find one that best suits your needs, considering factors such as trading fees, account minimums, and the range of investment products available. Some popular brokerages include Charles Schwab, Fidelity, E*TRADE, and TD Ameritrade, among others.
Fund your account: Once your brokerage account is set up, you’ll need to fund it with the amount you intend to invest in Bitcoin ETFs. You can typically transfer funds from your bank account or other financial institutions to your brokerage account through electronic funds transfer (EFT), wire transfer, or check. The funding process may take a few days, depending on your chosen brokerage and transfer method.
Choose the Bitcoin ETF: After researching and comparing different Bitcoin ETFs, select the one that aligns with your investment goals and risk tolerance. Make a note of the ETF’s ticker symbol, which is a unique identifier used to trade the ETF on the stock exchange.
Place an order: Log in to your brokerage account and navigate to the trading platform. Enter the ETF’s ticker symbol and decide on the number of shares you want to purchase.
There are two main types of orders you can place:
a. Market order: This type of order is executed immediately at the current market price. It is generally faster but may result in a higher or lower price than anticipated, depending on market volatility.
b. Limit order: With a limit order, you specify the maximum or minimum price you’re willing to pay for the ETF shares. This type of order provides more control over the price but may not be executed if the market price doesn’t reach your specified limit.
Monitor your investment: After you’ve successfully purchased the Bitcoin ETF shares, it’s important to regularly monitor your investment. Keep track of the ETF’s performance, any changes in the cryptocurrency market, and relevant news that may impact your investment. It’s also essential to review your investment strategy periodically and make adjustments as needed.
Tax implications: Be aware of the tax implications associated with investing in Bitcoin ETFs. In many jurisdictions, ETF gains are subject to capital gains tax, and you’ll need to report your earnings accordingly. Consult with a tax professional to ensure you’re in compliance with all applicable tax laws and regulations.
Please remember that investing in Bitcoin ETFs, like any investment, carries risks. It’s crucial to carefully assess your financial goals, risk tolerance, and investment horizon before committing any funds. Consulting with a financial advisor can also be helpful to ensure you’re making well-informed decisions.
Bitcoin ETFs in The United States
At the time of this writing, SPOT Bitcoin ETF are now approved in the United States. The SEC’s decision to approve these ETFs have paved the way for spot Bitcoin ETFs to become available for trading on U.S. stock exchanges.
The SEC has historically been cautious about approving a Bitcoin ETF, citing concerns related to market manipulation, liquidity, custody, and investor protection.
However, the approval of Bitcoin ETFs in other countries, such as Canada, has added pressure on the SEC to reconsider its stance.
The increasing adoption of cryptocurrencies, growing interest from institutional investors, and the maturation of the cryptocurrency market have also contributed to a more favorable environment for the eventual approval of a spot Bitcoin ETF in the United States.
Some of the high-profile applications submitted to the SEC for consideration include those from VanEck, Fidelity, ProShares, and Valkyrie.
These applications propose different structures for their respective ETFs, including ETFs that invest in Bitcoin directly, ETFs that hold Bitcoin futures contracts, and ETFs that invest in companies involved in the cryptocurrency industry.
To get the most up-to-date information on the status of a Bitcoin ETF in the United States it is advisable to check the latest news and SEC announcements on the SEC’s website.
Spot Bitcoin ETFs are now approved and have become available for trading, investors in the United States will now be able to gain exposure to the price of Bitcoin through a regulated and more accessible investment vehicle.
List of Futures Bitcoin ETFs in the United States
| Fund Name | Ticker Symbol | Traded Exchange | Country | Bitcoin Holdings |
| ProShares Bitcoin Strategy ETF | BITO | NYSE | USA | Btc Futures |
| Valkyrie Bitcoin Futures Strategy ETF | BTF | Nasdaq | USA | Btc Futures |
List of Spot Bitcoin ETFs in the United States
| BITCOIN ETF NAME | TICKER | FEE | EXCHANGE |
| ARK Invest / 21 Shares | ARKB | 0.21% | CBOE |
| Franklin Templeton | EZBC | 0.29% | CBOE |
| Invesco / Galaxy | BTCO | 0.39% | CBOE |
| WisdomTree | BTCW | 0.30% | CBOE |
| BlackRock | IBIT | 0.25% | NASDAQ |
| Grayscale | GBTC | 1.50% | NYSE |
| Hashdex | DEFI | 0.90% | NYSE |
| Valkyrie | BRRR | 0.49% | NASDAQ |
| VanEck | HODL | 0.25% | CBOE |
| Fidelity | FBTC | 0.25% | CBOE |
| Bitwise | BITB | 0.20% | NYSE |
Spot Bitcoin ETFs in Canada
Canada has been at the forefront of embracing cryptocurrencies, Bitcoin and blockchain technology. In February 2021, Canada approved the first-ever spot Bitcoin ETF, providing investors with a regulated and accessible way to invest in Bitcoin. The landmark decision opened up a whole new dimension in the cryptocurrency landscape, attracting both institutional and retail investors alike. At the time of this writing, there are 5 Spot Bitcoin ETFs in Canada.
Spot Bitcoin ETF List in Canada
| Fund Name | Ticker Symbol | Traded Exchange | Country | Bitcoin Holdings |
| Purpose Bitcoin ETF | BTCC | TSX | Canada | Physical Spot Btc |
| Evolve Bitcoin ETF | EBIT | TSX | Canada | Physical Spot Btc |
| 3iQ CoinShares Bitcoin ETF | BTCQ | TSX | Canada | Physical Spot Btc |
| Fidelity Advantage Bitcoin ETF | FBTC | TSX | Canada | Physical Spot Btc |
| CI Galaxy Bitcoin ETF | BTCX | TSX | Canada | Physical Spot Btc |
Purpose Bitcoin ETF – Ticker (BTCC):
Purpose Bitcoin ETF, launched in February 2021, was the first Bitcoin ETF to receive approval in Canada. It trades on the Toronto Stock Exchange (TSX) under the ticker symbol BTCC. The ETF allows investors to gain exposure to Bitcoin by holding the digital asset directly. Purpose Bitcoin ETF is managed by Purpose Investments, a Canadian investment management company.
- Inception date: February 18, 2021
- Management fee: 1.00%
- Assets under management: $584.4 million
- Cold storage wallet: 100%
- Eligible accounts: TFSA, RRSP
- Listing currency: CAD & USD
CI Galaxy Bitcoin ETF – Ticker (BTCX):
The CI Galaxy Bitcoin ETF, launched in March 2021, is another Bitcoin ETF available in Canada. It trades on the Toronto Stock Exchange (TSX) under the ticker symbol BTCX. The ETF aims to provide investors with exposure to Bitcoin’s price movements by investing directly in Bitcoin. The ETF is managed by CI Global Asset Management in collaboration with Galaxy Digital a blockchain-focused financial services firm.
- Inception date: March 5, 2021
- Management fee: 0.40%
- Assets under management: $138 million
- Eligible accounts: RRSP, RRIF, TFSA, RESP, RDSP, DPSP
- Cold wallet storage: 100%
- Listing currency: CAD & USD
Evolve Bitcoin ETF – Ticker (EBIT):
Evolve Bitcoin ETF, launched in February 2021, is also listed on the Toronto Stock Exchange (TSX) under the ticker symbol EBIT. The ETF aims to provide investors with exposure to Bitcoin’s price performance by investing directly in the cryptocurrency. Evolve Bitcoin ETF is managed by Evolve Funds Group, an investment management company based in Canada.
- Inception date: February 19, 2021
- Management fee: 0.75%
- Assets under management: $58.133 million
- Eligible accounts: TFSA, RRPS
- Cold storage wallet: 100%
- Listing currency: CAD & USD
Fidelity Advantage Bitcoin ETF – Ticker (FBTC):
Fidelity Advantage Bitcoin ETF, launched in November 2021, is also listed on the Toronto Stock Exchange (TSX) under the ticker symbol FBTC. This ETF aims to provide investors with exposure to Bitcoin’s price by investing directly in BTC. Fidelity Advanced Bitcoin ETF is managed by Fidelity Investments, an international investment management company.
- Inception Date: November 30, 2021
- Management Fee: 0.00%
- Assets under Management: $63.32 Million
- Eligible accounts: RRSP, RRIF, RDSP, DPSP, RESP, TFSA
- Cold Storage wallet: 100%
- Listing currency: CAD & USD
3iQ CoinShares Bitcoin ETF – Ticker (BTCQ):
3iQ CoinShares Bitcoin ETF launched in March 2021. They are listed on the Toronto Stock Exchange (TSX) under the ticker symbol BTCQ. The ETF has 100% exposure to Bitcoins price performance by purchasing bitcoin directly. 3iQ was founded in 2012 by investment industry veteran Fred Pye, with a focus on enabling investors to access the returns of digital assets inside traditional financial accounts.
- Inception date: March 31, 2021
- Management fee: 1.00% (MER up to 1.33%)
- Assets under management: $250 million
- Eligible accounts: RRSP, RRIF, RDSP, DPSP, RESP, TFSA
- Cold storage wallet: 100%
- Listing currency: CAD & USD
Conclusion
Bitcoin ETFs offer a regulated and relatively simple way for investors to gain exposure to the price of Bitcoin.
While they come with their own set of advantages and disadvantages, these funds can be an attractive option for those looking to invest in the cryptocurrency space without dealing with the intricacies of direct Bitcoin ownership.
As the regulatory landscape evolves and new ETFs are introduced, investors can expect a wider variety of options, providing them with more opportunities to invest in this rapidly growing asset class.
It is essential to conduct thorough research and consider individual risk tolerance before making any investment decisions in the world of cryptocurrencies and Bitcoin ETFs.
