Just recently I've decided to invest in Bitcoin and have chosen to buy shares in Fidelity's FBTC Exchange-Traded-Fund.
My choice was primarily between Fidelity's FBTC and Blackrock's IBIT. I chose FBTC because I like and trust Fidelity's service and I like their Trading Dashboard features.
Is Buying Shares of a BTC ETF a good way for non-tech new (late-to the game) investors to invest in BTC?
When you invest in an ETF, you are not buying Bitcoin itself, but only a share in the Bitcoin ETF. Under the terms of the agreement, the ETF (in your case, the Fidelity FBTC fund) agrees to pay you a certain amount in US dollars (if certain conditions are met). This amount is determined in conventional units (namely, BTC) and is converted into dollars on the day of payment. So, in fact, you do not own any Bitcoins🤷
Are you okay with this? If your answer is "yes", then everything is great! From then on, everything will depend on the decisions of other people, which, in turn, will be determined by the current political and economic situation in the United States. For example, under certain conditions, the US government may decide to pay you a smaller amount than specified in the agreement with Fidelity (for example, if it is decided that legal entities and individuals do not have the right to own Bitcoin. Bitcoin can only be a reserve asset managed by the US Federal Reserve). Also, Fidelity could go bankrupt and refuse to pay you. There could be many more negative events like this in the future. Although, of course, everything could work out well🏛️
Yes, this method of investing is convenient, since you don't have to worry about storing the seed phrase yourself. However, don't be fooled - with this method of investing, you will not become the owner of Bitcoin.🤹