• Bitcoin exchange-traded funds (ETFs) launched in the U.S. on January 11, 2024, including the BlackRock iShares Bitcoin Trust (IBIT).

• These ETFs have raised $17.7 billion since launch.

• MicroStrategy (MSTR) holds 252,220 bitcoins worth $16 billion and has seen its stock gain 119% year-to-date.

• IBIT charges a 0.25% fee, while MSTR has no fees, making it more attractive to investors.