I have no experience w/ ETFs but #BlackRock ‘s #Bitcoin application has peeked my interest so I’m reading thru it’s application.
First take away: “No Shares are issued unless the Bitcoin Custodian or Prime Broker has allocated to the Trust’s account the corresponding amount of bitcoin”
The Trust is a Delaware statutory trust.
The Trust issues Shares representing fractional undivided beneficial interests in its net assets.
The assets of the Trust consist primarily of #Bitcoin held by a custodian
Coinbase Custody Trust Company LLC (the “Bitcoin Custodian”) is the custodian for the Trust’s bitcoin holdings
