Bitwise becomes the first U.S. spot Bitcoin ETF to disclose BTC holding addresses.
Leading cryptocurrency asset management company Bitwise has set a new precedent by becoming the first U.S. physical Bitcoin exchange-traded fund (ETF) to disclose its Bitcoin address holdings.
“Now anyone can check BITB’s holdings and flows directly on the blockchain,” the asset manager said. “On-chain transparency is at the core of the Bitcoin ethos, and we are proud to walk alongside BITB.”
In response to 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. These disclosures are an attempt to foster trust by enhancing transparency and addressing concerns related to verification of asset support and allocations within ETFs.
“Publishing on-chain addresses is the first step toward increasing public transparency,” Bitwise continued. “As the infrastructure evolves, we hope to be able to do more, including collaborating with companies like the Hoseki app to provide real-time cryptographic proofs.”
The decision to make BTC address holdings public helps position Bitwise at the forefront of regulatory compliance and investor communications. By voluntarily sharing this information, Bitwise demonstrates its commitment to setting industry standards and building credibility for Bitcoin investment products.
Earlier this month, the U.S. Securities and Exchange Commission (SEC) officially approved the listing of the first spot Bitcoin ETF. Since its launch, ETFs have generated billions of dollars in demand and have become the second-largest ETF product in the United States.
