Leading cryptocurrency asset management company Bitwise has set a new precedent by becoming the first US spot Bitcoin exchange-traded fund (ETF) to publicly disclose the addresses of its Bitcoin holdings.
“Now anyone can see their BITB holdings and flows directly on the blockchain,” the asset manager said. “On-chain transparency is at the core of Bitcoin’s philosophy, and we are proud to stand 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 their ETF holdings. This disclosure seeks to increase transparency and promote trust by addressing concerns related to the verification of asset backing and allocation within ETFs.
“Disclosing on-chain addresses is the first step towards increasing public transparency,” says Bitwise. continuation. “As our infrastructure evolves, we look forward to doing more, including working with companies like hoseki app to provide real-time cryptographic certificates.”
The decision to make our BTC address holdings public helps put Bitwise at the forefront of regulatory compliance and investor communication. By voluntarily sharing this information, Bitwise is demonstrating its commitment to setting industry standards and building trust in Bitcoin investment products.
Earlier this month, the U.S. Securities and Exchange Commission (SEC) formally approved the listing of the first-ever spot Bitcoin ETF. Since its inception, the ETF has seen billions of dollars in demand, making it the second-largest ETF product in the country.
