I think he knows what he's talking about 

 I just disproved his claim with an example. Doesn’t seem like it. 

 Maybe @hong can answer better 

 You can buy bitcoin the asset on Choice by Kingdom Trust and probably Fidelity too and have Fidelity custody it for 1% annual fee. I’m not sure you can redeem in kind, but they definitely custody bitcoin and have been before the ETF got approved 

 I think he mentions just that? " a huge firm like fidelity ppl are fine with sine they trust apriori but a new firm like bitwise if we said we did self custody then many prospective investors would raise eye brows" 
What is the inaccuracy?
https://stacker.news/items/454701?commentId=454906
 

 “for example broker dealers (regulated by FINRA and SEC) aren't allowed to custody bitcoin or really touch it in any way”

This part appears inaccurate