RetireJapan

I think it is worth mentioning that the main advantage of an ETF structure is that it can be held in a tax-advantaged account.

That is why Canadians investors were excited by the new crypto ETFs as they can be held in a TFSA (Canadian Nisa, but better).

Without that benefit, I also would stick to holding the coins themselves. Japanese regulations on cold storage make the exchanges here look a bit more reliable (post Mt. Gox).

Some of the Canadian ETFs don't actually hold any crypto and just use futures instead. I'd be wary of these particular ETFs as they just add another layer of risk.