Crypto ETFs & ETPs
Bitcoin ETF: exchange-listed bitcoin with a custodian in between
Since US spot ETFs were approved, investors can buy bitcoin exposure through an ordinary brokerage account. In Europe that usually runs through ETPs or ETNs, because UCITS rules do not allow a single-asset fund.
- Ticker
- IBIT (VS) / diverse ETP's (EU)
- ISIN
- US09290D1000
- Issuer
- BlackRock (VS); in de EU o.a. 21Shares, VanEck, Bitwise
- Ongoing charges
- ±0,15%–0,25% (VS) / ±0,20%–1,49% (EU-ETP's)
- Structure
- US: spot ETF (trust). EU: physically backed ETP/ETN, not UCITS
Figures are indicative and checked periodically. Always verify the ISIN, ongoing charges and index in the issuer's latest KID and factsheet before you invest.
What you actually buy
A spot ETF or backed ETP holds bitcoin with an institutional custodian and issues shares or certificates mirroring that position. You buy a claim, not keys.
The price tracks bitcoin minus costs. Unlike futures products there is no roll cost, keeping the gap to spot small.
- Custody with a regulated custodian
- No private keys, no on-chain use
- Trading only during exchange hours, not 24/7
Europe: ETPs instead of ETFs
UCITS requires diversification, so a bitcoin-only fund cannot be a UCITS ETF. European issuers therefore list physically backed ETPs on Xetra, SIX and Euronext, available at nearly every European broker.
Check the backing (physical versus synthetic), the custodian, the issuing entity and whether an independent trustee verifies reserves.
Costs versus self-custody
US spot ETFs typically charge 0.15% to 0.25% per year; European ETPs range from about 0.20% to over 1%. Self-custody means a one-off hardware cost plus trading fees, but you carry full responsibility for the seed.
For a long-term position annual fees add up: 0.5% per year is a noticeable slice over a decade.
- ETF/ETP: third-party custody risk and annual fees
- Self-custody: no annual fee, your own key management
- Tax treatment differs per country and structure
Which route fits
An ETF or ETP suits investors who want everything in one brokerage account, do not want to manage keys, or invest through a pension structure. Self-custody suits those who want to send, use or hold bitcoin independently of a custodian.
Many combine both. If you do, read our dossiers on hardware wallets and seed security.
Najczęstsze pytania
Is there a bitcoin UCITS ETF?
No. UCITS requires diversification, so bitcoin-only products in Europe are ETPs or ETNs.
Can I withdraw bitcoin from an ETF?
No, retail redemption in kind is not offered by virtually any product. You sell the position and receive cash.
What is the biggest risk?
Besides the bitcoin price: custody risk and, with ETN structures, credit risk on the issuer.
Is an ETF cheaper than buying directly?
Often more convenient short term, but not cheaper long term: annual fees compound while self-custody is mostly a one-off cost.
This is information, not investment advice. Past performance says nothing about future returns; you can lose your investment.