The article discusses the convenience and convenience of Bitcoin exchange-traded products (ETFs), which are often described as "commodity trusts" for Wall Street convenience. These products simply hold actual Bitcoin in a vault and issue shares that track the price. However, the author points out that these companies do not actually own the coins. They are not registered under the Investment Company Act of 1940 and do not have the same regulatory protections as actual Bitcoin holders. Currently, BlackRock holds a massive 53% of the market, while Fidelity holds 24%. This has led to a fierce competition among the funds, with BlackRock controlling 53% and Fidelity controlling 24%. The article also highlights the potential for a potential tax evasion by older investors who refuse to sell their legacy trust because it would trigger a massive one-off tax bill.