Bitwise Leads the Way as First US Bitcoin ETF to Publicly Disclose Wallet Address

On Wednesday, Jan. 24, 2024, Bitwise, a starring integer plus manager, made a groundbreaking announcement arsenic the archetypal U.S. spot bitcoin exchange-traded money (ETF) to uncover its bitcoin wallet address. Emphasizing its committedness to transparency, Bitwise stated, “proud to locomotion the locomotion with BITB,” and affirmed that “onchain transparency is halfway to Bitcoin’s ethos.”

Bitwise Sets New Standard: Onchain Spot Bitcoin ETF Authentication

Bitwise, the cryptocurrency plus absorption steadfast known for its caller instauration of the BITB U.S. spot bitcoin ETF, has go the archetypal ETF to authenticate its BTC reserves. This improvement comes intimately connected the heels of Arkham Intelligence, an onchain analytics company, disclosing the onchain BTC holdings of respective large players including Blackrock, Bitwise, Fidelity, and Franklin Templeton.

“Today the Bitwise Bitcoin ETF (BITB) becomes the archetypal U.S. bitcoin ETF to people the bitcoin addresses of its holdings,” Bitwise wrote connected the societal media level X. “Now anyone tin verify BITB’s holdings and flows straight connected the blockchain. Onchain transparency is halfway to Bitcoin’s ethos. We’re arrogant to locomotion the locomotion with BITB”

The institution further added:

Publishing onchain addresses is simply a archetypal measurement toward expanding nationalist transparency. As infrastructure evolves, we anticipation to bash more, specified arsenic moving with firms similar [Hoseki App] to supply real-time cryptographic attestations.

Bitwise has joined the increasing inclination of centralized speech (cex) platforms that person enhanced their proof-of-reserve (POR) attestations successful the past year. The usage of POR systems, which person been successful spot for years but lone minimally, surged pursuing the illness of FTX, prompting exchanges to beryllium much transparent successful providing details astir their crypto reserves.

As of 4:40 p.m. Eastern Time (ET) connected Jan. 24, 2024, Bitwise’s wallet, identified arsenic “1CKVs,” owns 11,858.63 BTC, valued astatine astir $470.74 cardinal astatine the prevailing speech rates. Since its constitution connected Jan. 11, 2024, determination person been 17 transactions successful full wrong this wallet. Ranking 71st among the apical 100 wealthiest bitcoin addresses, the Bitwise wallet has not transferred immoderate satoshis since its creation. It remains to beryllium seen if different spot bitcoin ETFs volition follow a akin attack to code verification.

What bash you deliberation astir Bitwise disclosing its nationalist bitcoin code associated with the BITB ETF? Let america cognize what you deliberation astir this taxable successful the comments conception below.