12 | If demand is low, shares can get burned, if demand is high, more shares can be created. Trusts cannot do this! With a spot ETF, investors can buy BTC, and regardless of demand, the asset will track near NAV, getting rid of concerns about additional 30% discounts/losses
12 |如果需求低，股票可能会被烧掉，如果需求高，可以创造更多的股票。信托不能这样做！有了现货ETF，投资者可以购买BTC，无论需求如何，该资产都将接近资产净值，摆脱对额外30%折扣/损失的担忧