A bitcoin ETF is a managed bitcoin fund that you can buy shares in. Unlike other ETFs, you are not buying bitcoin stock in Canada because bitcoin is not a stock. Instead, the fund will buy actual bitcoin and store it safely in cold storage. Each share represents a unit of this bitcoin. When you buy shares in a bitcoin ETF, you are buying into a portion of the bitcoin owned and held by the asset manager. You do not have custody of the bitcoin itself, so you cannot transfer it to a private wallet.