Definition ∞ Investment vehicles or assets that derive their value from Bitcoin’s price movements without directly holding the cryptocurrency. These instruments offer indirect exposure to Bitcoin’s performance. Examples include shares in publicly traded companies with substantial Bitcoin holdings or certain exchange-traded products.
Context ∞ The debate surrounding Bitcoin proxies often centers on their effectiveness in replicating Bitcoin’s price action and their regulatory standing. Investors frequently assess these alternatives when direct Bitcoin ownership presents operational or regulatory hurdles.
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