Bitcoin has surged to new all-time highs, briefly surpassing $97,400, fueled by growing investor optimism and macroeconomic tailwinds—including shifting political dynamics and institutional adoption. Year-to-date, Bitcoin has appreciated over 130%, with a pivotal catalyst being the U.S. Securities and Exchange Commission (SEC) approval of spot Bitcoin ETFs in January 2024. This regulatory milestone opened the floodgates for mainstream investors to gain regulated exposure to Bitcoin through traditional brokerage accounts.
These ETFs have transformed the crypto investment landscape by offering a secure, compliant, and accessible alternative to direct Bitcoin ownership. As of late 2024, 12 spot Bitcoin ETFs are officially approved and trading on U.S. markets, each backed by actual Bitcoin holdings and managed by reputable financial institutions.
Let’s explore the top 12 SEC-approved spot Bitcoin ETFs—ranked by assets under management (AUM)—and what makes each one worth watching.
What Are Spot Bitcoin ETFs?
A spot Bitcoin ETF tracks the real-time price of Bitcoin by holding the actual cryptocurrency in secure custody. Unlike futures-based ETFs, which rely on derivatives contracts, spot ETFs provide direct exposure to Bitcoin’s market value. This structure appeals to investors seeking simplicity, regulatory oversight, and reduced operational complexity compared to managing private keys or using crypto exchanges.
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Top 12 Spot Bitcoin ETFs in 2024
1. BlackRock’s iShares Bitcoin Trust (IBIT)
- AUM: $45.4 billion
- Share Price (Nov 2024): $55.90
- Expense Ratio: 0.25% (waived to 0.20% for first $5B in assets)
As the world’s largest asset manager, BlackRock brings unparalleled credibility to the crypto space with its iShares Bitcoin Trust. IBIT quickly became the largest spot Bitcoin ETF by AUM, surpassing Grayscale’s GBTC within months of launch. The fund benefits from BlackRock’s robust infrastructure, global distribution network, and trusted brand.
With a competitive fee structure and strong inflows, IBIT is a top choice for both retail and institutional investors looking for reliable Bitcoin exposure.
2. Grayscale Bitcoin Trust (GBTC)
- AUM: $20.61 billion
- Share Price (Nov 2024): $78.05
- Expense Ratio: 1.50%
Once the dominant player in crypto investment products, Grayscale Bitcoin Trust transitioned from a private trust to a spot ETF in January 2024 after a long legal battle with the SEC. While it initially led the market in AUM, significant outflows followed due to its high expense ratio.
Despite this, GBTC remains a key player thanks to its first-mover advantage and widespread recognition among traditional investors.
3. Fidelity Wise Origin Bitcoin Trust (FBTC)
- AUM: $18.44 billion
- Share Price (Nov 2024): $85.88
- Expense Ratio: 0.25% (waived until August 1, 2024)
Fidelity Investments, another Wall Street giant, entered the ETF race with FBTC, leveraging its in-house custody solution—Fidelity Digital Asset Services—to securely hold Bitcoin. This vertical integration enhances security and transparency.
FBTC tracks the Fidelity Bitcoin Reference Rate, ensuring accurate price alignment with the broader market.
4. ARK 21Shares Bitcoin ETF (ARKB)
- AUM: $4.69 billion
- Share Price (Nov 2024): $98.11
- Expense Ratio: 0.21%
A collaboration between ARK Invest, led by Cathie Wood, and 21Shares, ARKB combines disruptive innovation with crypto expertise. The fund is custodied by Coinbase Custody, one of the most trusted names in digital asset security.
With one of the lowest fees among early entrants and strong brand recognition, ARKB appeals to growth-oriented investors.
5. Bitwise Bitcoin ETF (BITB)
- AUM: $4.00 billion
- Share Price (Nov 2024): $53.51
- Expense Ratio: 0.20%
Bitwise Asset Management launched BITB with the lowest expense ratio among major spot ETFs at launch. The firm has deep roots in crypto indexing and launched the world’s first cryptocurrency index fund in 2017.
BITB offers pure-play exposure to Bitcoin with minimal fees and transparent operations—ideal for cost-conscious investors.
6. Grayscale Bitcoin Mini Trust (BTC)
- AUM: $3.3 billion
- Share Price (Nov 2024): $43.60
- Expense Ratio: 0.15%
This newer offering from Grayscale underwent a 1:5 reverse stock split in November 2024 to increase share price and improve tradability. The Mini Trust offers lower fees than GBTC and targets investors seeking affordable access to Bitcoin via ETFs.
While smaller in scale, it benefits from Grayscale’s established custody and compliance framework.
7. VanEck Bitcoin Trust (HODL)
- AUM: $1.26 billion
- Share Price (Nov 2024): $111.11
- Expense Ratio: 0.20% (fee waiver up to $1.5B in assets)
VanEck, known for its early advocacy of a spot Bitcoin ETF, seeded HODL with $72.5 million—the largest initial commitment among new entrants. The fund uses Coinbase for custody and follows a transparent pricing model based on major exchange data.
VanEck’s long-standing reputation in ETF innovation adds trust and stability to this offering.
8. Valkyrie Bitcoin Fund (BRRR)
- AUM: $873.8 million
- Share Price (Nov 2024): $27.80
- Expense Ratio: 0.25%
Named after the popular internet meme “money printer go brrr,” Valkyrie’s BRRR stands out with its bold branding—but also delivers substance. The fund emphasizes quality over hype, focusing on secure custody and sound investment principles.
It offers a straightforward way to gain exposure to Bitcoin with competitive fees and growing investor interest.
9. Invesco Galaxy Bitcoin ETF (BTCO)
- AUM: $844.24 million
- Share Price (Nov 2024): $98.13
- Expense Ratio: 0.25%
A joint venture between Invesco and Galaxy Digital, BTCO combines traditional finance expertise with deep crypto market knowledge. Galaxy handles execution for Bitcoin purchases, while Coinbase provides custody.
The fund aims to deliver efficient, secure, and scalable access to Bitcoin for mainstream investors.
10. Franklin Bitcoin ETF (EZBC)
- AUM: $699.81 million
- Share Price (Nov 2024): $57.00
- Expense Ratio: 0.19%
Franklin Templeton, with over 75 years of asset management experience, launched EZBC as part of its digital asset strategy. The ticker “EZBC” reflects its mission: making Bitcoin investing easy and accessible.
With one of the lowest fees in the field and strong institutional backing, EZBC is positioned for long-term growth.
11. WisdomTree Bitcoin Fund (BTCW)
- AUM: $353.30 million
- Share Price (Nov 2024): $104.29
- Expense Ratio: 0.25%
WisdomTree extends its diverse ETF lineup into crypto with BTCW, which uses physical replication to track Bitcoin’s price. Shares are valued daily using aggregated trade data from major exchanges, ensuring accuracy.
Each share corresponds to a fraction of a securely stored Bitcoin held in cold storage.
12. Hashdex Bitcoin ETF (DEFI)
- AUM: $13.98 million
- Share Price (Nov 2024): $111.82
- Expense Ratio: 0.90%
The smallest on the list, Hashdex’s DEFI, transitioned from a futures-based ETF to a spot product post-approval. While it carries the highest expense ratio, it offers fully physically backed exposure and targets niche investors seeking diversified digital asset access.
Its size may limit liquidity, but it represents an important step in global crypto financial integration.
Key Differences: Bitcoin ETF vs Direct Bitcoin Ownership
| Aspect | Spot Bitcoin ETF | Direct Bitcoin Ownership |
|---|---|---|
| Custody | Held by institutional custodians | User-controlled wallets |
| Security | Regulated custody & audits | Depends on user practices |
| Accessibility | Available via stock brokers | Requires crypto exchange |
| Control | No private keys | Full control over assets |
| Fees | Management fees apply | Transaction & network fees |
While ETFs simplify access and reduce technical barriers, they do not grant ownership of actual Bitcoin—meaning investors miss out on self-custody benefits like using BTC for payments or DeFi applications.
👉 Compare your options and see which path aligns with your investment goals today.
Are Spot Bitcoin ETFs Regulated?
Yes—these ETFs are regulated financial instruments overseen by the SEC, providing investor protections such as transparency, reporting requirements, and oversight of custodial arrangements.
However, regulation applies to the structure of the ETF—not to Bitcoin itself. Market volatility, regulatory changes, and macroeconomic factors still pose risks.
Frequently Asked Questions
What should I look for in a spot Bitcoin ETF?
Focus on expense ratio, AUM size (indicating liquidity), issuer reputation, custody solutions, and tracking accuracy relative to Bitcoin’s price.
Which is the largest spot Bitcoin ETF?
As of late 2024, BlackRock’s IBIT holds the top spot with over $45 billion in assets under management.
How many SEC-approved spot Bitcoin ETFs are there?
There are currently 12 SEC-approved spot Bitcoin ETFs available on U.S. exchanges.
Do spot Bitcoin ETFs hold real Bitcoin?
Yes—all approved spot ETFs hold actual Bitcoin in secure custody, typically using third-party providers like Coinbase or Fidelity Digital Assets.
Are spot Bitcoin ETFs a good investment?
They can be suitable for investors seeking regulated exposure without managing private keys—but come with fees and counterparty risk. Always assess your risk tolerance and investment objectives.
Can non-U.S. investors buy these ETFs?
Many international brokers offer access to U.S.-listed ETFs, though availability depends on local regulations and brokerage support.
Final Thoughts
The launch of spot Bitcoin ETFs marks a turning point in financial history—bridging traditional capital markets with digital assets. With major players like BlackRock, Fidelity, and VanEck involved, confidence in crypto as a legitimate asset class continues to grow.
Whether you're a seasoned investor or just beginning your journey, understanding these ETFs—and their nuances—is essential for making informed decisions.
👉 Stay ahead of the curve and explore next-generation investment opportunities now.