JamesG1, thanks for responding to my question. You seem to be saying that an investor in
one of the new bitcoin etfs would answer "No" to the 1040 digital asset question.
I have read the IRS explanation of the digital asset question many times but I keep
getting hung up on the last bullet point:
"Otherwise disposed of any other financial interest in a digital asset."
The prospectus for the Fidelity Wise Origin Bitcoin (FBTC) has the following on page 96.
"Individual U.S. Shareholders will be required to report on their federal income tax return the receipt, acquisition, sale, or exchange of any financial interest in virtual currency, which includes a Shareholder’s interest in bitcoin held by the Trust."
Doesn't this imply that an investor would need to answer "Yes"?
