For years, the biggest knock on Bitcoin ETFs was simple: in the U.S., they didn't exist.
That era is over. On January 10, 2024, the SEC approved the listing and trading of spot Bitcoin exchange-traded products, and eleven of them began trading the next day — including BlackRock's iShares Bitcoin Trust (IBIT), Fidelity's Wise Origin Bitcoin Fund (FBTC), and the converted Grayscale Bitcoin Trust (GBTC). Spot Ether ETFs followed in mid-2024.
So the question is no longer whether you can get Bitcoin exposure in a regular brokerage account. It's whether you should hold the ETF, the coins themselves, or both — and how to see the whole position clearly once you do.
What Is a Spot Bitcoin ETF?
An exchange-traded fund is a security that tracks the value of an underlying asset and trades on a stock exchange, just like a share of Apple or an S&P 500 fund.
A spot Bitcoin ETF holds actual Bitcoin. Each share represents a slice of real BTC held by the fund's custodian, so the share price closely tracks Bitcoin's live market price. That's different from the futures-based ETFs that launched in 2021, which track Bitcoin futures contracts and can drift from the spot price because of roll costs.
Why Investors Choose the ETF
Convenience
You buy and sell in the brokerage account you already have. No crypto exchange onboarding, no wallets, no seed phrases that can be lost or stolen.
Retirement accounts
ETF shares can live inside IRAs and some 401(k) brokerage windows, which means you can hold Bitcoin exposure in tax-advantaged accounts — something that's difficult to do with coins directly.
A regulated wrapper
Shares sit at your broker under familiar securities-account protections, while institutional custodians hold the underlying coins. For many investors (and their advisors), that wrapper is the difference between "no crypto" and "some crypto."
Easy hedging and options
Because ETF shares trade like stocks, you can short them, and options markets exist on the major funds — tools that are harder to access with coins on an exchange.
Why Investors Still Hold Crypto Directly
Self-custody
"Not your keys, not your coins." With an ETF you own shares of a fund, not Bitcoin you can move, spend, or hold in cold storage. If self-sovereignty is part of why you own Bitcoin, the ETF doesn't deliver it.
24/7 markets
Crypto trades around the clock; ETFs trade during market hours. Big weekend moves happen while the ETF is closed, and the gap gets reconciled at Monday's open.
Ongoing fees
Spot ETFs charge annual management fees (expense ratios vary by fund). Coins held in your own wallet cost nothing to hold — though you take on the responsibility of securing them.
On-chain utility
Direct holdings can move between wallets, interact with DeFi, and be used for payments. ETF shares can't leave the brokerage world.
ETF, Coins, or Both?
Plenty of investors land on both: ETF exposure inside tax-advantaged accounts, plus directly held coins for self-custody and on-chain use. There's no single right answer — but there is a common failure mode: treating them as separate worlds and losing track of your true total exposure.
If you hold IBIT in an IRA, some BTC on Coinbase, and more in a cold wallet, your real Bitcoin position is the sum of all three. Sizing, rebalancing, and risk decisions only make sense when you can see that sum.
The New Tracking Problem
Bitcoin exposure now shows up in two very different places: your brokerage statement (where the ETF sits next to index funds) and your exchanges and wallets. Most portfolio tools handle one or the other. Traditional trackers ignore wallets; crypto trackers ignore brokerages. Neither shows your complete position — let alone your complete net worth.
Kubera: One Dashboard for ETFs, Coins, and Everything Else
Kubera was built for exactly this. The web-based app is powered by custom-made architecture that connects with banks, stock brokerages, crypto exchanges, and other financial institutions across the globe.
The result: a live dashboard that funnels every investment in your portfolio into one place. See your Bitcoin ETF shares alongside your directly held coins, your stocks, real estate, and anything else you own — web domains, collectibles, you name it.
Kubera supports tens of popular exchanges — including Coinbase, Binance, and Kraken. It also tracks digital wallets for Bitcoin, Ethereum, and other digital assets and can even connect to cold wallets.
Kubera is as easy to use as a spreadsheet — only smarter. After connecting your bank, brokerage, and crypto accounts, your holdings update automatically, and crypto values and exchange rates refresh in real time. Its recap and IRR features show how each slice — ETF and coins alike — is actually performing, and since it's compatible with EstiBot, Zillow, and other leading asset experts, you can even get real-time value estimates of your home and car.
Bitcoin exposure is now a mainstream line item — whether it arrives as an ETF ticker or a wallet address. Make sure you can see all of it in one place.
Sign up for Kubera and get a single tool to track your Bitcoin ETFs, your coins, and every other investment you own.
Or, if you work with a financial professional, share Kubera's customizable white-label solution with them.
