Both the SecondMarket Trust and the ETF(will be) are audited. By 3rd parties.

These are non-concerns.

Remember the last time third party auditors without the necessary level of paranoia for crypto did their thing?

It appears that someone who performs audits on our system and had read-only access to our database had their computer compromised. This allowed for someone to pull our database. The site was not compromised with a SQL injection as many are reporting, so in effect the site was not hacked.

https://support.mtgox.com/entries/20208066-huge-bitcoin-sell-off-due-to-a-compromised-account-rollback

Thats not the same kind of audit. Lol. We are talking about the PriceWaterhouseCooper kind of audit.