IBIT's 0.25% Fee Hides the Real Cost: Your Bitcoin Per Share Shrinks Every Day, and the IRS Taxes Each Slice

The article argues that holding the Bitcoin ETF IBIT without selling still triggers a recurring tax bill. It further claims that the ETF’s day-to-day mechanism incrementally erodes the holder’s effective Bitcoin claim while the fund remains open. Overall, the piece presents a cautionary view on the tax drag and tracking/erosion effects for long-term IBIT holders.