Among the risks of the trust mentioned in the filing are “If a malicious actor or botnet obtains control in excess of 50 percent of the processing power active on the Bitcoin Network, such actor or botnet could manipulate the source code of the Bitcoin Network or the Blockchain in a manner that adversely affects an investment in the Shares or the ability of the Trust to operate.”
Additionally, the filing acknowledges commercial and retail use of bitcoins is small compared to activity in the retail market, which could contribute to volatility in the currency.
The filing did not include a ticker, expense ratio or possible release date.
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of Facebook.