The iShares Bitcoin Trust (IBIT) is [[BlackRock]]'s spot [[Bitcoin]] exchange-traded fund, launched in January 2024 following SEC approval. Key features: - Launched: January 2024 - Listed: On [[NASDAQ]] - Purpose: Direct exposure to Bitcoin price movements - Custody: [[Coinbase]] Custody - Structure: Physically-backed [[ETF]] (holds actual Bitcoin) Significance: - First wave of SEC-approved spot Bitcoin ETFs - Major institutional entry into crypto market - Backed by world's largest asset manager - Provides regulated Bitcoin exposure - Accessible through traditional brokerage accounts Notable aspects: - Quick asset gathering success - Competitive fee structure - Part of broader institutional crypto adoption - Trading alongside other approved Bitcoin ETFs - Represents mainstream financial acceptance of crypto assets