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I will note that the ETFs are using Coinbase, Gemini, and Fidelity for custody. These companies have been providing Bitcoin custody for years without being hacked AFAIK.

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Most notably, almost all of them seem to be using Coinbase. This makes them a probably unprecedented target for attacks of all kinds...

Makes me wonder if coinbase has the whole Dudes With Big Guns layer of protection that you see at e.g. the fed in NY (where all the gold is) or the bank of England (where all the other gold is)

Bitcoin keys in bank vaults guarded by security guards is exactly what is happening. I wrote about this almost 10 years ago here:

https://www.linkedin.com/pulse/day-163-zubair-2015-bitcoin-p...

My timeline for when things will happen in Bitcoin were way too optimistic though :)

Coinbase had/has job posts for private security.

Coinbase already held a huge amount of cryptocurrency, so that's nothing new.

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