Purpose Bitcoin CAD ETF Currency Hedged T.BTCC.B

Security of the Bitcoin on these ETFs

[Lawyerup]

Okay I know I have heard its impossible for any of these ETFs to lose their bitcoin by hackers, get it stolen by insiders or any loss by missing bitcoin tokens.  What exactly guarantees do we have that if this ever happens the ETF takes any responsibility for missing bitcoins under their stewardship?  I know the chances are low but we have seen Mt Gox scandal, the QuadriaCX scandal where coins just disappeared and the end result people who trusted these companies lost billions.  Not saying it will happen but with so many bitcoin ETFs that seem to be announced almost on a weekly basis it seems the chances of fraud or misuse goes up with each new announcement.  I would hate to wake up one day and hear oh yeah one bitcoin ETF got hacked and investors are out millions and its impossible to find where the coins went.

[Shadow1973]

There is always inherent risk, just look at how many pages are devoted to that in the fund prospectus. I'd be more worrried about a cleaning person stealing your crypto wallet from your closet than losses in an multi million dollar ETF backed by Gemini.

[Lawyerup]

True, I spread my bitcoin exposure around to different ETFs so I am a little more diversified than just owning one ETF.  Also I believe the US GBTC OTC fund they have to have some sort of liabilitiy insurance as required by the SEC just in case of a disaster with their bitcoin holdings.  I haven't heard of any Canadian ETF having anything similar.  If that is the case with the

[marcrobert]

you would have to do a minimum of research like any other investment, right? Purpose isn't a fly by night etf maker, Seif is well known in the industry. However, only the prospectus will go into details about risk of loss etc. equity etfs use custodians who hold assets and cash for them in trust (such as a big bank or bny mellon). But given the nature (or absence) of the "asset"

[marcrobert]

Voil :` BNY Mellon Said to Hire Fireblocks for Bitcoin Custody Service https://finance.yahoo.com/news/bny-mellon-said-hire-fireblocks-190432332.html