Bitwise’s top executives confirm January 26th His company’s Spot Bitcoin ETF reportedly received hundreds of dollars in unsolicited Bitcoin payments.
Co-founder and CTO Hong Kim wrote that the Bitwise Bitcoin ETF (BITB) received 998,085 Satoshis worth $419 in 35 UTXOs in two days.
He suggested that this would simply increase the value of the ETF, writing:
“[It’s] can be ignored compared to [fund’s assets under management] (about $511 million as of yesterday) But these satellites [net asset value] and occurs for the benefit of shareholders. ”
When asked if additional funds could be donated to Bitcoin developers instead, Kim said: 10% of the fund’s profits Donations will be made to open source Bitcoin development. However, this donation policy is part of Bitwise’s previous ETF plans and is not a direct response to the latest fund receipts.
The transfers to Bitwise’s Bitcoin addresses appear to have been prompted by the company’s decision to make the addresses public on January 24th.
The reason behind the deal is unclear
The motive for the transaction is unclear. Bloomberg analyst Eric Balciunas suggested the move was merciful. write:
“I’d like to know if this is a one-off or the beginning of something. [people] Throw your tips into the proverbial ETF jar, whether the fund had a good year or a terrible year. ”
On the other hand, small unsolicited transactions are typically referred to as “dusting” attacks, so their intent may be malicious.
However, Kim rules out such issues, writing:
“handling [dusting] It’s not that difficult for institutional administrators, and the framework that you can “attack” public Bitcoin addresses by sending them free satellites is not true. ”
He specifically denied that any harm could occur through connections to suspicious addresses. Kim wrote that the ETF’s custodian, Coinbase Custody, flags funds received from OFAC-approved addresses. He said those funds are not added to the ETF’s net asset value and are “left alone.”
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