Q: Its my understanding that Coinbase is serving as the custodian for a number of Bitcoin ETFs including iShares Bitcoin ETF IBIT. Does the Canadian ETF BTCC hold its own coins?
5i Research Answer:
All of Purpose ETFs (the provider of BTCC.B) bitcoin holdings are held with Gemini Trust Company and Coinbase Custody Trust Company who serve as the Funds 'subcustodians.' Day-to-day, Purpose holds Bitcoin in secure, offline wallets, which are disconnected from the internet, significantly reducing the risk of theft.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in BTCC.B.