Investor and podcast host Anthony Pompliano said a bitcoin ETF is probably the most secure option for someone holding $10,000 to $10 million in bitcoin if security against loss is the only goal. ETF investors hold brokerage shares rather than the keys to bitcoin; they cannot move it onchain or use it for payments, and can sell shares only when markets are open.
Critics point to custodian risk: BlackRock’s IBIT uses Coinbase as its sole custodian for 815,000 BTC. The source also reports $1.28 billion in weekly outflows from U.S. spot bitcoin ETFs.
