What is a bitcoin depositary receipt (BTC Dr)?
Could you elaborate on what a Bitcoin depositary receipt, commonly known as a BTC Dr, actually is? I've heard it mentioned in the crypto community but am still unclear on its specific function and purpose. Is it a way for investors to gain exposure to Bitcoin without directly owning the underlying asset? Does it provide any added security or convenience compared to traditional Bitcoin ownership? Clarifying the definition and benefits of a BTC Dr would be greatly appreciated.