A Bitcoin Spot ETF (Exchange-Traded Fund) is a type of investment fund that tracks the price of Bitcoin directly. It allows investors to buy and sell shares of the fund on stock exchanges, mirroring the value movement of Bitcoin itself. Unlike futures-based ETFs that derive their value from futures contracts, a spot ETF holds actual Bitcoin, aiming to match its price movements more closely. These ETFs provide a way for investors to gain exposure to Bitcoin without directly owning the cryptocurrency, offering more regulated and traditional market access.