Definitely worth reading small print. Very very very few people already have actual bitcoin in an IRA. Self custody gold IRA holders have gone to court for the theoretical crime of giving themselves the ability to undetectably spend IRA gold without government being able to detect/prosecute with pre-collected evidence.

My understanding is that the law/irs regulation doesn’t permit these IRAs explicitly, in fact, it prohibits them, but the only valid goal of the law is really about being able to prove innocence of a crime…until bitcoin, this couldn’t be done and language of law is vague/incomplete/inappropriate in the bitcoin era. Eventually law/rule will get rewritten to properly reflect the limits the people have granted to government authority.