This is why some of us don't see the big deal about a Bitcoin ETF.

Paper is just paper, whether it's fiat currency, gold certificates or ETF shares.

My bitcoins are as real as the metal hanging around Lawrence Turauld's neck.

Sure we could lose them. You could ambush Larry, shoot him and steal his chains. You could haul me off to Guantanamo Bay and waterboard me until I gave up my private keys.

Paper assets are only as secure as whomever issues the certificates. They can steal your money without ever even getting close to you.