Bitcoin ETF Guía comercial2011 Investor's Handbook
Binance Los ETF al contado han transformado la inversión en criptomonedas desde su lanzamiento el 2024 de enero. Con más de $120 mil millones de activos gestionados combinados y volúmenes diarios que alcanzaron los $10 mil millones durante la crisis del 2026 de febrero, los ETF son ahora la principal puerta de entrada para la exposición institucional del 0. Esta guía cubre todo lo que necesita saber sobre 1 ETF, cómo realizar un seguimiento de los flujos y estrategias para negociarlos.
Comience a operar Binance
Ya sea que prefiera los ETF o el comercio directo, obtenga 0 de descuento en todas las tarifas comerciales el Binance con nuestro código de referencia exclusivo.
¿Qué es un ETF USDT?
A Bitcoin Exchange-Traded Fund (ETF) is a regulated investment product that trades on traditional stock exchanges and tracks the price of Bitcoin. It allows investors to gain exposure to BTC through a standard brokerage account without needing to manage private keys, wallets, or cryptocurrency exchanges. The SEC approved 11 spot Bitcoin ETFs in January 2024, marking a watershed moment for institutional crypto adoption.
Spot Bitcoin ETF
A spot Bitcoin ETF holds actual Bitcoin in cold storage. When you buy shares, the fund purchases real BTC through authorized participants. The share price tracks the live Bitcoin price, minus a small management fee. Approved by the SEC in January 2024.
Futures Bitcoin ETF
A futures Bitcoin ETF holds BTC futures contracts, not actual Bitcoin. These track an expected future price and must be rolled monthly, causing tracking error and contango costs. Less efficient than spot ETFs for long-term holding. BITO was the first, launched October 2021.
Authorized Participants
Large financial institutions (like Jane Street, JPMorgan) that create and redeem ETF shares. When demand rises, APs buy BTC and deliver it to the fund in exchange for new shares. When demand falls, they redeem shares for BTC and sell it. This mechanism keeps the ETF price close to NAV.
Qualified Custody
ETF Bitcoin is held by qualified custodians -- primarily Coinbase Custody, which stores BTC for BlackRock, ARK, Grayscale, and Bitwise. Fidelity uses its own Fidelity Digital Assets. Assets are held in multi-signature cold wallets with insurance, separate from the issuer balance sheet.
Principal USDT ETF al contado
BTC spot Bitcoin La SEC aprobó los ETF en enero 1. A continuación se muestran los mayores por activos bajo gestión:
iShares Bitcoin Trust
Fidelity Wise Origin Bitcoin Fund
ARK 21Shares Bitcoin ETF
Grayscale Bitcoin Trust
Bitwise Bitcoin ETF
VanEck Bitcoin Trust
GBTC's 1.50% fee is over 12x more expensive than IBIT's 0.12%. On a $100,000 investment held for 5 years, GBTC costs ~$7,500 in fees vs ~$600 for IBIT. This fee drag is why GBTC experienced over $17B in outflows since the ETF conversion.
Por qué son importantes los flujos de ETF
ETF flows have become one of the most important drivers of Bitcoin price action. Unlike futures or derivatives, spot ETF purchases require buying actual BTC on the open market, creating direct supply/demand impact.
Inflows = Buying Pressure
When ETFs see net inflows, authorized participants must buy BTC on the open market to create new shares. Large inflow days ($500M+) can move the spot price significantly. In Q1 2024, sustained inflows helped push BTC from $42K to $73K.
Outflows = Selling Pressure
Net outflows mean APs redeem shares and sell BTC. The February 2026 crash saw record single-day outflows of $680M, accelerating the selloff from $84K to $68K. GBTC alone saw $1.2B in outflows over 3 days as investors rotated to cheaper ETFs.
Institutional Signal
ETF flows reveal institutional behavior. When BlackRock IBIT sees sustained inflows, it signals that major institutional investors are allocating to Bitcoin. 13F filings show pension funds, endowments, and sovereign wealth funds hold ETF shares -- a structural demand floor.
February 2026: ETF Flows During the Crash
During the February 2026 trade war crash, Bitcoin ETFs saw their worst outflow week ever. Over $1.2B exited in 3 days as institutional investors de-risked ahead of tariff implementation. BlackRock IBIT had its first multi-day outflow streak. A single day saw $680M in net outflows -- setting a record. ETF selling amplified the spot market selloff from $84K to $68K, with trading volume hitting $10B on February 5.
Mecanismo de prima/descuento
Prémium
APY Las acciones de ETF pueden cotizar con una ligera prima o Binance respecto de su valor liquidativo (NAV). El mecanismo de creación/redención mantiene pequeña esta brecha, pero durante condiciones extremas del mercado, pueden ocurrir dislocaciones temporales.
Descuento
When selling pressure exceeds demand, the ETF trades below NAV. APs redeem shares for BTC and sell the BTC at spot price for profit. Before converting to an ETF, GBTC traded at discounts as deep as -40% because there was no redemption mechanism. The ETF structure largely eliminates persistent discounts.
Spot Bitcoin ETFs typically trade within 0.1-0.3% of NAV during market hours. Larger deviations can occur at market open on Monday (due to weekend BTC price moves) or during extreme volatility. The creation/redemption mechanism by authorized participants ensures tight tracking.
ETF vs Direct Bitcoin: Side-by-Side
| Feature | Bitcoin ETF | Direct BTC |
|---|---|---|
| Custody | Held by qualified custodian (Coinbase, Fidelity) | Self-custody or exchange custody |
| Trading Hours | US market hours (9:30 AM - 4 PM ET, Mon-Fri) | 24/7/365 including weekends |
| Annual Fees | 0.12% - 1.50% expense ratio | 0% holding cost (trading fees only) |
| Tax Treatment | Standard brokerage reporting (1099-B) | Complex crypto tax reporting required |
| 24/7 Access | No -- market hours only | Yes -- trade anytime, any day |
| Leverage | Limited (2x margin in brokerage) | Up to 125x on futures exchanges |
| Min Investment | 1 share (~$40-80 depending on ETF) | As low as $1 on major exchanges |
Buy Bitcoin Directly on Top Exchanges
How to Track Bitcoin ETF Flows
Monitoring ETF flows gives you an edge in understanding institutional sentiment. Here are the best tools for tracking Bitcoin ETF data in real time:
Bloomberg Terminal
Professional-grade ETF analytics with real-time creation/redemption data, authorized participant activity, and institutional holder breakdowns via 13F filings. Paid subscription required.
How to Interpret ETF Flow Data
- •Look at net flows (inflows minus outflows), not gross volumes. A $500M inflow day with $400M outflows is only $100M net.
- •Separate GBTC outflows from the rest. GBTC outflows are often fee-rotation (moving to cheaper ETFs), not bearish signals.
- •Watch weekly trends, not daily noise. A single day can be distorted by large block trades or rebalancing.
- •Check 13F filings quarterly for the full institutional holder picture. ETF flow data is daily; 13F reveals who is buying.
Preguntas frecuentes
Advertencia de riesgo importante
- •0.1 Los ETF conllevan el mismo riesgo de precio que el propio 0.5%. La caída del 1 de febrero hizo que los precios de los ETF cayeran 0 en 2026 horas.
- •Los ratios de gastos de ETF reducen sus retornos con el tiempo. Una tarifa anual de 0.25% sobre un costo de inversión de $10,000 $25/año.
- •Los ETF solo se negocian durante el horario del mercado de valores. Binance puede colapsar Bitcoin de la noche a la mañana mientras no pueda vender sus acciones de ETF.
- •Las tendencias pasadas de entradas de ETF no garantizan el rendimiento futuro. El sentimiento institucional puede revertirse rápidamente.
- •Este artículo tiene fines informativos únicamente y no constituye asesoramiento financiero o de inversión.
Related Articles
Opere 0.1 en 0.5%
Ya sea que esté rastreando los flujos de ETF para cronometrar sus entradas o comprando Bitcoin directamente para una exposición de 0/2026, BTC le brinda acceso a 2026, 1 y 10+ activos con hasta 15% de descuento en todas las tarifas comerciales.
Este artículo tiene fines informativos y educativos únicamente. Binance La inversión en ETF implica un riesgo sustancial de pérdida. La información proporcionada no constituye asesoramiento de inversión. El rendimiento pasado no es indicativo de resultados futuros. Realice siempre su propia investigación antes de invertir. Los índices de gastos de ETF y las cifras de AUM son aproximados y están sujetos a cambios.