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- How many Bitcoin ETF shares = 1 BTC? : r/BitcoinBeginners - RedditThe ETF will follow BTC closely. But the ETF does take a management fees. These fees pay for the management of the underlying asset (infrastructure costs), insurance fees (for example if Blackrock gets hacked or losses it's keys, it's BTC is insured), and a profits for the company managing the BTC.
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