TheBTCSpotETFproductisbasedonBTCspot.EachETFproductunitrepresentsacertainquantityofBTCspotinitially.TheETFproductspricefluctuatesbasedonthevolatilityofBTCspotusually.TherearemanagementfeesandoperatingcostsduringtheoperationofETFproductsandthesefeeswillbereflectedinthenetvalueoftheETFproduct.