> Bitcoins held by the Trust are not subject to FDIC or SIPC protections.
> The Trust is not a banking institution or otherwise a member of the Federal Deposit Insurance Corporation (“FDIC”) or Securities Investor Protection Corporation (“SIPC”) and, therefore, deposits held with or assets held by the Trust are not subject to the protections enjoyed by depositors with FDIC or SIPC member institutions. The undivided interests in the Trust’s bitcoins represented by Shares in the Trust are not insured.
Also see "Risk Factors Related to the Regulation of the Trust and the Shares." The protections you apparently think you have don't exist.
I'm not going anywhere near this, just like I'm not going anywhere near any BitCoin wallet service.
I realize the underlying assets are subject to some of the same risks as owning BitCoins themselves. The person who said do you trust the Winklevoss's more than the wallet service is on the money.
> Bitcoins held by the Trust are not subject to FDIC or SIPC protections.
> The Trust is not a banking institution or otherwise a member of the Federal Deposit Insurance Corporation (“FDIC”) or Securities Investor Protection Corporation (“SIPC”) and, therefore, deposits held with or assets held by the Trust are not subject to the protections enjoyed by depositors with FDIC or SIPC member institutions. The undivided interests in the Trust’s bitcoins represented by Shares in the Trust are not insured.
Also see "Risk Factors Related to the Regulation of the Trust and the Shares." The protections you apparently think you have don't exist.