Bitwise, a leading cryptocurrency asset management company, has set a new precedent by becoming the first US spot bitcoin exchange-traded fund (ETF) to publicly disclose its bitcoin address holdings.
“Now anyone can verify BITB holdings and flows directly on the blockchain,” the asset manager stated. “On-chain transparency is fundamental to the spirit of bitcoin. We are proud to continue this path with BITB.”
In a move that aligns with the growing demand for openness and accountability in the industry, Bitwise offers investors and the public real-time access to the bitcoin addresses associated with their ETF holdings. This disclosure improves transparency and attempts to foster trust, addressing concerns related to support verification and asset allocation within the ETF.
“Publishing on-chain addresses is a first step toward greater public transparency,” Bitwise continued. “As the infrastructure evolves, we hope to do more, such as working with companies like hose app to provide real-time crypto certifications.”
The decision to publish btc address holdings helps position Bitwise at the forefront of regulatory compliance and investor communication. By voluntarily sharing this information, Bitwise demonstrates its 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 bitcoin spot ETFs. Since their launch, ETFs have seen billions of dollars in demand and have become the second largest ETF commodity in the country.
