Bitwise, a leading cryptocurrency asset management firm, has set a new precedent by becoming the first U.S. spot Bitcoin exchange-traded fund (ETF) to publicly disclose its Bitcoin address holdings.
"Now anyone can verify BITB's holdings and flows directly on the blockchain," the asset manager stated. "Onchain transparency is core to Bitcoin's ethos. We're proud to walk the walk with BITB."
In a move that aligns with the growing demand for openness and accountability in the industry, Bitwise is providing investors and the public with real-time access to the Bitcoin addresses associated with its ETF holdings. This disclosure enhances transparency and and attempts to fosters trust, addressing concerns related to the verification of asset backing and allocation within the ETF.
"Publishing on-chain addresses is a first step toward increasing public transparency," Bitwise continued. "As infrastructure evolves, we hope to do more, such as working with firms like hoseki app to provide real-time cryptographic attestations."
The decision to publish BTC address holdings helps positions Bitwise at the forefront of regulatory compliance and investor communication. By voluntarily sharing this information, Bitwise demonstrates a commitment to setting an industry standard and building credibility for Bitcoin investment products.
Earlier this month, the United States Securities and Exchange Commission (SEC) officially approved the listing of the first-ever spot Bitcoin ETFs. Since launch, the ETFs have seen billions of dollars in demand and have become the second largest ETF commodity in the country.
via bitcoinmagazine.com
