The wider world · 78 / 86
Funds, ETFs, and wrappers
A fund or an ETF can hold crypto so you hold a brokerage product instead. You did not step away from a firm. You hired one.
Who holds it
The fund holds the coins, or a custodian does, inside a legal wrapper. You hold a share in a brokerage account. The broker can close, the market can halt, and the fee is annual.
What you gave up
You cannot move those coins at midnight to a wallet you control. That may be what you wanted. Say so honestly.
A wrapper is not a scam by itself. It is a firm. Run the check.
Check yourself
Does buying a bitcoin ETF mean you hold bitcoin keys?
No. You hold a product in a brokerage account.
After this you can say whether you hold coins or a brokerage claim on coins.
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