The Bitwise Bitcoin ETF (BITB) is an exchange-traded fund from the digital asset management firm Bitwise Investment Advisors. On Jan. 11, 2024, it joined 10 other exchange-traded products as one of the first spot bitcoin ETFs approved by the U.S. Securities and Exchange Commission. 

What is a spot bitcoin ETF?

A spot bitcoin ETF allows investors to forgo direct bitcoin ownership but still gain exposure to the cryptocurrency's price movements. Investors can buy shares of the ETF through their brokerage accounts, which represent ownership of a portion of the Bitcoin held by the fund. Trading of the ETF shares occurs on traditional stock exchanges, providing investors with liquidity and ease of access to Bitcoin exposure.

What is BITB's issuer Bitwise?

Bitwise is a cryptocurrency …