SPIDER is the name of the first Exchange Traded Fund (ETF), introduced in 1993 in USA. After twenty years of its inception, Bangladesh is going to introduce this investment instrument at DSE soon. This article gives the readers a comprehensive idea about the origin, its differences with other related investment funds, its creation and redemption process, its usage to its investors, benefits, related risk factors, its evaluation factors and costs to the investors. ETF is a hybrid attractive investment instrument and possesses qualities of both the mutual fund and common stock. It avoids disadvantages such as lack of transparency, agency conflicts etc. of closed end mutual funds and takes the benefit of the flexibility of common stocks. For Bangladesh, where the structure of Stock Market lacks accountability, this sort of investment instrument which has transparency will bring confidence among the customers. The neighboring countries where it has been introduced has been successful. More can be stated regarding ETF in perspective of Bangladesh after its official introduction at DSE.