Again SP, you've answered your own question.
SP's Q: "Why didn't Soros directly buy physical gold?"
SP's A: "So it looks like George Soros trusts paper gold."
Get rid of your suspicsions of ETFs and see what the Big Boys - aka Soros and CIC - think about SPDR.
They're in.
- pug
ps: Oh, and trust your own logic too: you answer all your own questions about ETFs