iShares Bitcoin Trust ETF (IBIT)

[trunkmonk]

minus management fee

another word for contango or decay, dey always get their money. They use investors money to buy BTC coins, which investors will never see, and charge fees to manage the account. this ETF is just a transfer of wealth, absolutely unequivocally.
if they have to they will do reverse splits, they will, or forward, they will. but if u buy the etf u will never see a coin, and the splits wont change how many coins they hold.