Bitcoin ETF

Bitcoin

Impact

Arkham

Read

<ul>
 <li>WisdomTree’s Physical Bitcoin ETP, WBIT, holds 8,900 BTC across 134 wallets and is valued at approximately $579 million.</li>
 <li>WBIT offers direct exposure to Bitcoin, backed by physically held assets, enhancing transparency and investor accessibility.</li>
 <li>Arkham Intel’s findings underline the increasing complexity and popularity of cryptocurrency investment products.</li>
</ul>
<p>Arkham Intel has identified a series of wallets associated with WisdomTree’s Physical Bitcoin ETP, known as WBIT. According to their findings on the social media platform X, WBIT holds a substantial 8,900 BTC. These assets, spread across 134 wallets, are valued at approximately $579 million.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Wisdomtree’s $579M BTC ETP is now on Arkham<br><br>Wisdomtree’s Physical Bitcoin ETP WBIT stores 8.9K BTC ($579.35M) across 134 separate addresses – now tagged on Arkham.<br><br>Track Bitcoin in WBIT at the link below:<a href="https://t.co/SAL1RDpNHx" rel="noopener noreferrer nofollow">https://t.co/SAL1RDpNHx</a> <a href="https://t.co/ARVzDXLm9x" rel="noopener noreferrer nofollow">pic.twitter.com/ARVzDXLm9x</a></p>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1783888993555276158?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 26, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p><strong>Investment Structure and Market Impact</strong></p>
<p>The design of WisdomTree Physical Bitcoin involves a physically backed exchange-traded product (ETP) aimed at providing investors with straightforward, secure, and cost-efficient access to Bitcoin. Unlike a spot Bitcoin ETF, which might use derivatives to mimic Bitcoin’s price movements, <a href="https://www.wisdomtree.eu/fr-lu/products/ucits-etfs-unleveraged-etps/cryptocurrency/wisdomtree-physical-bitcoin" target="_blank" rel="noopener noreferrer nofollow">WBIT</a> entitles its shareholders to a direct stake in the Bitcoin it holds. This approach ensures that the product is fully backed by actual Bitcoin, and securely stored in cold storage.</p>
<p>Moreover, this structure emphasizes transparency and easy accessibility for investors, aligning with market demands for clear, institutional-quality custody solutions. Additionally, the market reacted to the news of this asset management strategy, showcasing the robustness and appeal of physically-backed Bitcoin investment vehicles.</p>
<p>WisdomTree also manages a spot Bitcoin ETF, WBTC, sanctioned earlier this year. Trading data from The Block’s Data Dashboard <a href="https://www.theblock.co/data/crypto-markets/bitcoin-etf/bitcoin-spot-etf-volumes" target="_blank" rel="noopener noreferrer nofollow">shows</a> that WBTC experienced significant trading volumes, reaching $31.6 million on April 24 and $10.6 million the following day.&nbsp;</p>
<p>The discovery by Arkham Intel highlights the growing sophistication and expansion of cryptocurrency financial products. As these investment vehicles evolve, they continue to attract both seasoned and novice investors, drawn by the promise of secure, transparent, and efficient market participation.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/wisdomtree-adds-solana-cardano-polkadot-etps/" rel="noopener noreferrer nofollow">WisdomTree Adds Solana, Cardano, Polkadot ETPs</a></li>
 <li><a href="https://cryptonewsland.com/hive-installs-1423-of-its-hive-buzzminer-bitcoin-miners/" rel="noopener noreferrer nofollow">HIVE Installs 1,423 of its HIVE BuzzMiner Bitcoin Miners</a></li>
 <li><a href="https://cryptonewsland.com/defi-technologies-introduces-xrp-etp-to-boost-crypto-investments-in-europe/" rel="noopener noreferrer nofollow">DeFi Technologies Introduces XRP ETP to Boost Crypto Investments in Europe</a></li>
 <li><a href="https://cryptonewsland.com/wisdomtree-gains-approval-for-bitcoin-etf-purchases/" rel="noopener noreferrer nofollow">WisdomTree Gains Approval for Bitcoin ETF Purchases</a></li>
 <li><a href="https://cryptonewsland.com/netherlands-announces-listing-a-new-spot-bitcoin-btc-etp/" rel="noopener noreferrer nofollow">Netherlands Announces Listing a New Spot Bitcoin (BTC) ETP</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/arkham-intel-identifies-wallets-for-wisdomtrees-bitcoin-etp/" rel="noopener noreferrer nofollow">Arkham Intel Identifies Wallets for WisdomTree’s Bitcoin ETP</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Arkham Intel Identifies Wallets for WisdomTree’s Bitcoin ETP

Crypto News Land

Other articles published on Apr 27, 2024

Shiba Inu at Crossroads as 69 Trillion SHIB Hangs in Balance

Franklin Templeton Listed ETH ETF on DTCC before SEC approval

AVAX’s tough year – What needs to change for Avalanche?

Final Correction Before BTC Skyrockets? Analyst Recommends Adding DTX, DOGE, and SOL for 10X Gain...

Bitcoin Enters ‘Danger Zone’ Post-Halving, Analyst Warns Of Potential Downside

Tech Giants Fortify Indiana’s Digital Infrastructure with Billion-Dollar Investments

Join our free newsletter for daily crypto updates!