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A Bitcoin Exchange-Traded Fund (ETF) is a financial product that allows investors to gain exposure to Bitcoin without directly owning the cryptocurrency. The ETF holds Bitcoin as its underlying asset and trades on traditional stock exchanges like a stock. Investors can buy and sell shares of the ETF through their brokerage accounts, providing a more accessible way to invest in Bitcoin for those who may be hesitant to navigate cryptocurrency exchanges directly. The approval and regulation of Bitcoin ETFs vary by country and financial authorities. As of my last knowledge update in January 2022, several attempts were made to launch a Bitcoin ETF in the United States, but regulatory approval was pending. Please check the latest information for updates.