What is a Bitcoin ETF and how does it differ from owning Bitcoin directly?

A Bitcoin ETF (Exchange-Traded Fund) is an investment product that tracks Bitcoin's price without requiring you to own actual Bitcoin. When you buy a Bitcoin ETF, you're purchasing shares of a fund that holds Bitcoin or Bitcoin futures contracts. Key differences: Direct Bitcoin ownership requires a crypto wallet and personal security responsibility; ETFs trade on traditional stock exchanges like regular stocks. ETFs offer easier access through brokerage accounts, automatic custody, and regulatory oversight. However, you don't control private keys and may pay management fees (typically 0.2-0.95% annually). Direct Bitcoin ownership provides full control and avoids intermediaries but demands technical knowledge. ETFs are ideal for traditional investors; direct ownership suits crypto enthusiasts prioritizing autonomy. Both track similar prices but differ in convenience, security model, and accessibility.