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And BitGOLD is fully backed 1:1, and with ZERO counterparty risk!

My bad. Apparently Van Eck's OUNZ allows retail investors to convert to physical gold while only "authorized participants" (not us) are allowed to redeem GLD.

https://www.barrons.com/articles/a-gold-etf-that-lets-you-redeem-shares-for-gold-1468641673