Also known as how do you exit an illiquid market without destroying the price...
i have to agree.. this was my first thought when i saw the article too
a 200k sell on the current market would drive the price down but by doing it this way and creating demand from a new market if enough people bite it'll drive the price up just long enough for them to have turned all their BTC into cash
their 'company' will then be able to pay them wages/dividends and generally bleed down the value of BTC whilst only they benefit from it
it's a clever piece of latteral thinking, but not a good thing for a technology whose best outcome would be it stabalised into a currency
this ETF will be constructed to go out and buy new BTC, not sell the private stash of the Winklevii. that would be illegal unless they plan on "donating" their BTC to the Trust, which I highly doubt. so whatever investment fiat goes into buying shares will represent new demand.