What is fidelity advantage bitcoin ETF (FBTC)?

Could you please clarify what Fidelity Advantage Bitcoin ETF (FBTC) is exactly? Is it a type of exchange-traded fund that allows investors to gain exposure to Bitcoin without actually owning the cryptocurrency itself? What are the potential benefits and risks associated with investing in this ETF? Additionally, what are the eligibility requirements for investors looking to invest in FBTC, and how does it compare to other Bitcoin-related investment options?