The first line in that Bloomberg article sums up everything pretty nice, no need to read it all...
The same way you can buy gold and when the times comes you realize that you can't make even an engagement ring from the ten kilos of paper gold you have in your safe.
Quote
If you want to buy Bitcoin without actually buying Bitcoin
The same way you can buy gold and when the times comes you realize that you can't make even an engagement ring from the ten kilos of paper gold you have in your safe.
This is so shady. Since the SEC did not approve anything similar to that on US soil and the Swedish fund doesn't allow US citizens to invest, somebody had to find a way to go around it and instead of launching the ETF in the US it's launching a derivative of a fund that is not holding BTC, so it's also a derivative. So, a US citizen is buying a local derivative of a Swedish derivative that is based on the value of a volatile cryptocurrency. It's like an EU citizen lending money to someone in Africa through a third party based in India. How could this go wrong?