Bitcoin ETF

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitwise-reveals-bitcoin-etf-wallet-address-setting-new-transparency-standards/" data-wpel-link="internal">Bitwise Reveals Bitcoin ETF Wallet Address, Setting New Transparency Standards</a> 
Leading crypto investment manager Bitwise is drawing attention by sharing the on-chain wallet address of its <a href="https://en.coin-turk.com/bloomberg-analyst-loses-optimism-as-bitcoin-fails-to-surpass-30000-why/" data-wpel-link="internal">Bitcoin</a> exchange-traded fund (ETF) BITB, a groundbreaking step towards transparency. This strategic decision allows everyone to directly verify the assets and flows of BITB on the Blockchain, aligning with the fundamental principle of transparency in the Bitcoin ecosystem. 
<h2 style="text-align: justify" id="bitb-s-bitcoin-wallet-unveiling-the-assets">BITB’s Bitcoin Wallet: Unveiling the Assets</h2> 
The on-chain wallet address of BITB revealed that the fund holds a significant asset of 11,858 BTC, which indicated a valuation exceeding $465 million at the time the article was written. Bitwise aims to set a new standard for transparency in crypto investments by providing this open information about the fund’s assets. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-307099 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/btc-bitcoin-etf-cointurk.png" alt="" width="596" height="790"> 
Emphasizing its commitment to on-chain transparency, Bitwise stated that sharing the fund’s on-chain address is the first step in increasing public visibility. As the crypto infrastructure evolves, Bitwise plans to offer real-time cryptographic verifications and strengthen transparency measures in collaboration with Proof-of-Funds infrastructure firm Hoeski. 
This pioneering move positions Bitwise as the first spot Bitcoin ETF issuer to make its wallet address public. The decision was enthusiastically received by the crypto community, signaling a positive shift towards increased openness and accountability in the industry. 
<h2 style="text-align: justify" id="community-reaction-and-donations-a-symbolic-gesture">Community Reaction and Donations: A Symbolic Gesture</h2> 
Members of the crypto community welcomed Bitwise‘s step and saw it as a move in the right direction for the industry. Some community members took the initiative to donate small amounts of Bitcoin to the Bitwise ETF to express their support. 
While this move was largely celebrated, some industry participants expressed concerns about potential manipulation of the fund’s Net Asset Value (NAV). Speculations arose about the impact of users sending funds to the public wallet address on NAV. 
With Assets Under Management (AUM) exceeding $360 million, BITB has solidified its position as the fourth-largest spot Bitcoin ETF. Following in the footsteps of industry giants Grayscale, BlackRock, and Fidelity, it highlights its significance in the ever-expanding crypto investment landscape. 
In conclusion, Bitwise’s decision to disclose the on-chain wallet address of BITB serves as an example of transparency in the crypto investment sector. As the industry evolves, such initiatives contribute to building trust and promoting a more open and accountable environment for both investors and enthusiasts. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitwise-reveals-bitcoin-etf-wallet-address-setting-new-transparency-standards/" data-wpel-link="internal">Bitwise Reveals Bitcoin ETF Wallet Address, Setting New Transparency Standards</a></h5>

Bitwise Reveals Bitcoin ETF Wallet Address, Setting New Transparency Standards

Table of Contents

COINTURK NEWS

Other articles published on Jan 25, 2024

Comparing BRICS GDP vs G7 Countries

If Palworld is Integrating NFT, What Are The Chances of Success?

Bakkt Crypto Trading Expands Footprint in LatAm and Southeast Asia

Avalanche’s Mixed Fortunes: NFT Growth Amidst Overall Decline

These 2 Factors Suggest Signs of a Market Correction Phase Ending

Female Techpreneur hosts groundbreaking Founders’ Lounge event in Lagos today

Join our free newsletter for daily crypto updates!