The holder of the futures warehouse receipt needs to hand over the warehouse receipt to the exchange or its designated warehouse when closing the position, and then deliver the corresponding amount of spot according to the delivery method stipulated in the futures contract. After delivery, the spot belongs to the buyer or seller of futures trading, and the specific ownership depends on its position in futures trading and delivery method.

If the futures contract is closed before the delivery month, the buyer or seller of the futures transaction can choose physical delivery or sell the warehouse receipt without actually delivering the spot. If you choose to sell the warehouse receipt, the warehouse receipt holder will transfer the warehouse receipt to the buyer. After the buyer holds the warehouse receipt, he can choose to deliver the warehouse receipt to the designated warehouse and receive the corresponding amount of spot. Therefore, the ownership of the spot depends on the specific operations and choices of buyers and sellers in the transaction.