Cryptocurrency asset manager Bitwise has become the first among ten Bitcoin exchange-traded fund (ETF) issuers to publicly disclose their wallet address. The reveal showcased Bitwise Bitcoin ETF’s (BITB) holdings of 11,858 bitcoin as of January 23.
The reveal was made through a screenshot that showed the fund’s wallet address and its holdings. The company emphasized the importance of transparency, pointing to it as “core to Bitcoin’s ethos.”
Bitwise added that publishing its on-chain addresses “is a first step toward increasing public transparency,” and that in the future it plans to “provide real-time cryptographic attestations.”
This move addresses a broader demand within the crypto ecosystem for clear insights into financial dealings, including those of new products like ETFs. Cryptocurrency proponents, given their past experiences with fraud and misrepresentation, have been more cautious.
After Bitwise shared its public wallet address, some Bitcoin users have sent it small amounts of BTC, which to Bloomberg ETF analyst Eric Balchunas could be a first for ETFs, as someone is essentially donating underlying assets to the fund.
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- Source: https://www.cryptocompare.com/email-updates/daily/2024/jan/25/
