This a list of bitcoin exchanges recommended by me

URLs:
https://www.therocktrading.com      The Rock Currency Exchange, located in Italy. Commited fraud in 2024 thus ditched and not recommended.
https://paymium.com/         Paymium – The European exchange, located in France

This exchange is fairly good if you have to buy a small amount of bitcoins, otherwise it could be difficult if you have to buy  more then 25-50 bitcoins at once or even more.
Recently TheRockTrading improved its liquidity, now it’s possible to trade more then 100 btcs at once without a significant amount of order slippage.

Other exchanges not recommended by me but still used by the bitcoin community, probably because of high liquidity.

URLs:
https://www.bitfinex.net/         Bitfinex – invest in the future, The platform is owned and operated by iFinex Inc., which is registered on the British Virgin Islands (BVI) – recently hacked thus ditched and not recommended.
https://www.kraken.com/         Kraken – Sail the high seas of success, located in USA
https://www.itbit.com        ItBit – Bitcoin Trading Services Built for Financial Institutions and Active Traders
https://www.bitstamp.net/         Bitstamp – buy and sell bitcoins, located in Slovenia
hacked in Jan 2015 thus ditched and not recommended.
https://www.btcchina.com/       BTCchina, located in Shanghai, Cina
Closed by China Gov
https://btc-e.com/                     BTC-e, i failed to discover physical address for this exchange. Their banking partner seems to be “Mayzus Financial Services Limited”
website recently seized by FBI thus ditched and absolutely not recommended.

For large btc investment you can now use ETF and ETN you can invest in bitcoin more easily.

Spot Bitcoin ETFs (Hold Bitcoin Directly)
These ETFs, approved by the SEC in January 2024, hold Bitcoin physically via custodians like Coinbase. They trade on exchanges such as NYSE and Nasdaq.

iShares Bitcoin Trust ETF (IBIT)
Issuer: BlackRock
Exchange: Nasdaq
AUM: Over $86 billion (July 2025)
Expense Ratio: 0.25% (initial discount removed after reaching $5 billion)
Features: The largest spot Bitcoin ETF with high liquidity. Uses Coinbase Prime as custodian. Allows trading options (calls/puts).
Risk: Reliance on Coinbase as custodian; custodian failure risk not instantly recoverable.

Grayscale Bitcoin Trust ETF (GBTC)
Issuer: Grayscale
Exchange: NYSE
AUM: Around $20 billion (July 2025)
Expense Ratio: 1.5% (higher than average)
Features: One of the first Bitcoin ETFs, converted from a closed-end trust in 2024. Holds Bitcoin directly.
Risk: Higher fees compared to competitors; lost market share to low-cost ETFs.

Grayscale Bitcoin Mini Trust ETF (BTC)
Issuer: Grayscale
Exchange: NYSE
AUM: $5.3 billion (July 2025)
Expense Ratio: 0.15% (lowest among spot ETFs)
Features: Launched July 2024 as a low-cost alternative to GBTC, holding 45,722 BTC. Each share represents 0.00044283 BTC.
Risk: Like IBIT, depends on a third-party custodian (Coinbase).

Fidelity Wise Origin Bitcoin Fund (FBTC)
Issuer: Fidelity
Exchange: NYSE
AUM: About 206,000 BTC (July 2025, approximate data from X posts)
Expense Ratio: Competitive, about 0.25%
Features: Provides direct Bitcoin exposure, popular among traditional investors.
Risk: Similar to other spot ETFs, dependent on custodian.

ARK 21Shares Bitcoin ETF (ARKB)
Issuer: ARK Invest / 21Shares
Exchange: NYSE
AUM: Around 49,000 BTC (July 2025)
Expense Ratio: Around 0.21%
Features: Managed by ARK Invest, known for innovative investments.
Risk: Smaller AUM than IBIT, potentially less liquid.

Bitwise Bitcoin ETF (BITB)
Issuer: Bitwise
Exchange: NYSE
AUM: Around 40,000 BTC (July 2025)
Expense Ratio: Around 0.20%
Features: Spot ETF focusing on transparency and low costs.
Risk: Custody via third parties.

Invesco Galaxy Bitcoin ETF (BTCO)
Issuer: Invesco / Galaxy
Exchange: NYSE
AUM: Not specified, but among major spot ETFs
Expense Ratio: Competitive, about 0.25%
Features: Offers direct exposure with attractive fees.
Risk: Like others, relies on third-party custodians.

Valkyrie Bitcoin Fund (BRRR)
Issuer: Valkyrie
Exchange: Nasdaq
AUM: Not specified, among newer spot ETFs
Expense Ratio: About 0.25%
Features: Spot ETF focused on accessibility.
Risk: Less experience compared to BlackRock or Fidelity.

Franklin Bitcoin ETF (EZBC)
Issuer: Franklin Templeton
Exchange: NYSE
AUM: Not specified
Expense Ratio: About 0.19%
Features: Spot ETF with competitive fees.
Risk: Dependent on custodians.

VanEck Bitcoin Trust (HODL)
Issuer: VanEck
Exchange: NYSE
AUM: Not specified
Expense Ratio: About 0.25%
Features: Spot ETF backed by an established issuer.
Risk: Custody via third parties.

WisdomTree Bitcoin Fund (BTCW)
Issuer: WisdomTree
Exchange: NYSE
AUM: Not specified
Expense Ratio: About 0.30%
Features: Spot ETF focused on institutional investors.
Risk: Slightly higher fees.

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Strategic Bitcoin ETFs (Indirect Exposure)
These ETFs do not hold Bitcoin directly but use futures or shares of blockchain-related companies.

ProShares Bitcoin Strategy ETF (BITO)
Issuer: ProShares
Exchange: NYSE
AUM: Not specified, but among the first Bitcoin ETFs (launched October 2021)
Expense Ratio: About 0.95%
Features: Invests in Bitcoin futures, not physical Bitcoin. First Bitcoin ETF approved in the USA.
Risk: Futures can deviate from Bitcoin’s spot price, resulting in less precise returns.

Other Bitcoin Strategy ETFs
There are 5 other strategic ETFs (not detailed here) that invest in Bitcoin futures or shares of mining companies (e.g., Marathon Digital, Riot Blockchain).
Risk: Indirect exposure, more volatile and less correlated with Bitcoin’s price.

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List of Bitcoin ETNs
In Europe, due to UCITS restrictions, there are no spot Bitcoin ETFs, only ETNs (debt notes guaranteed by the issuer), often physically backed by Bitcoin. Here are the main ones available in Europe:

21Shares Bitcoin ETP (ABTC)
Issuer: 21Shares
Exchange: Various European exchanges (e.g., SIX Swiss Exchange)
Features: Physically backed by Bitcoin, tracks spot price.
Risk: Issuer credit risk (21Shares); not regulated as an ETF.

WisdomTree Bitcoin ETN
Issuer: WisdomTree
Exchange: European exchanges (e.g., Deutsche Börse)
Features: Physically backed, tracks Bitcoin price.
Risk: Issuer credit risk.

CoinShares Physical Bitcoin (BITC)
Issuer: CoinShares
Exchange: European exchanges
Features: Backed by physical Bitcoin.
Risk: Custodian dependency and issuer credit risk.

VanEck Bitcoin ETN (VBTC)
Issuer: VanEck
Exchange: European exchanges
Features: Tracks Bitcoin price, physically backed.
Risk: Issuer credit risk.

ETC Group Physical Bitcoin ETN
Issuer: ETC Group
Exchange: European exchanges
Features: Backed by physical Bitcoin.
Risk: Credit and custody risk.