Cryptocurrency Q&A
What is the onramp Bitcoin Trust?
What is the onramp Bitcoin Trust?
Carlo
Mon Jul 15 2024
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7 answers
1867
Could you elaborate on the nature and function of the Onramp Bitcoin Trust? I'm curious to understand how it differs from traditional investment vehicles and how it specifically caters to the world of cryptocurrencies. I've heard it's a trust designed to provide investors with exposure to Bitcoin, but I'm interested in the specific mechanics and advantages it offers. Does it have a unique structure? How does it ensure the safety and security of investors' funds? And most importantly, what kind of opportunities does it present for those looking to diversify their portfolios in the crypto space?
7 answers
ZenMind
Wed Jul 17 2024
Clients of the Onramp Bitcoin Trust enjoy a 1-1 exposure to spot Bitcoin, meaning their investment is directly tied to the value of Bitcoin.
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SeoulSerenitySeekerPeace
Wed Jul 17 2024
The Bitcoin held within the trust is stored securely in a multisignature vault that requires the collaboration of two out of three parties for authorization.
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CharmedFantasy
Wed Jul 17 2024
The Onramp Bitcoin Trust serves as a vehicle for investors seeking direct access to Bitcoin exposure.
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SakuraPetal
Wed Jul 17 2024
These parties are Onramp, BitGo, and Coincover, a UK-based institution, ensuring geographical diversity and enhanced security.
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Arianna
Wed Jul 17 2024
The private keys that control access to the Bitcoin are distributed across these three institutions, minimizing the risk of any single point of failure.
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