hoseleader in bitcoin and blockchain verification solutions, has introduced Hoseki Verified, a new verification product aimed at improving transparency and trust in the cryptocurrency industry, with a focus on exchange-traded fund (ETF) asset verification. ) of bitcoin in cash, according to a press. statement sent to bitcoin magazine.
This public dashboard aims to set a new verification standard in the industry, offering retail and institutional investors complete visibility into these funds' btc holdings.
Hoseki Verified is intended to provide real-time verification of bitcoin held in custody by bitcoin ETF spot issuers and other financial institutions. The public dashboard, accessible to all, shows verified bitcoin holdings with custodians such as Coinbase, BitGo and Gemini, according to the statement, offering a level of transparency previously unavailable in the industry.
“In the world of institutional investment, transparency is not only an added value; it is a fundamental need,” said Hoseki CEO Sam Abbassi. “As the cryptocurrency market matures, investors are demanding higher standards of clarity and accountability. “Hoseki Verified meets this need by providing an unwavering level of digital asset verification, ensuring that each Spot bitcoin ETF meets the highest standards of transparency and integrity.”
Asset Management Company and Spot bitcoin ETF Issuer Bit by bit (BITB), has welcomed this initiative as the first participant. In January, Bitwise provided transparency for the first time regarding its bitcoin ETF when it published the bitcoin addresses of its ETF holdings, taking the lead in setting a new precedent for asset transparency among ETF issuers. By partnering with Hoseki Verified, Bitwise reinforces its dedication to investor trust and security.
“We care deeply about bitcoin and its core value propositions, including audibility and public transparency, which is why we have taken the initiative to make our on-chain assets public and why we are delighted to work with Hoseki to get the job done. of public transparency that we have already made is even stronger,” explained Bitwise CTO, Hong Kim.
Hoseki Verified is not limited to just Bitwise; Welcomes and invites other bitcoin entities to join this initiative to create a more transparent bitcoin investment landscape. With Hoseki Verified, investors can verify the integrity and transparency of these investment vehicles, ultimately contributing to a healthier and more trustworthy financial ecosystem.
