Bitcoin ETF

Bitcoin

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitwise-leads-transparency-in-crypto-with-public-bitcoin-wallet-disclosure" rel="noopener noreferrer nofollow">Bitwise Leads Transparency in Crypto with Public Bitcoin Wallet Disclosure</a> 
Bitwise, a prominent crypto investment manager, has taken a groundbreaking step towards transparency by publicly sharing the on-chain wallet address of its <a href="https://en.bitcoinhaber.net/bitcoins-volatile-week-sudden-moves-shake-the-market" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded fund (ETF), BITB. This strategic move allows anyone to directly verify the assets and flows of BITB on the Blockchain, aligning with the core principle of transparency within the Bitcoin ecosystem.
The revealed on-chain wallet address of BITB shows that the fund holds a significant amount of 11,858 BTC, valued at over $465 million at the time of writing. Bitwise aims to set a new standard for transparency in crypto investments by providing this open information about the fund’s assets.
Emphasizing its commitment to on-chain transparency, Bitwise considers sharing the fund’s on-chain address as a first step in increasing public visibility. As crypto infrastructure evolves, Bitwise plans to offer real-time cryptographic verifications in collaboration with Proof-of-Funds infrastructure firm Hoeski, further strengthening transparency measures.
This pioneering move positions Bitwise as the first spot Bitcoin ETF issuer to make its wallet address public, a decision that has been enthusiastically received by the crypto community, signaling a positive shift towards greater openness and accountability in the industry.
While the move is largely celebrated, some industry participants have expressed concerns about potential manipulation of the fund’s Net Asset Value (NAV) due to the public’s ability to send funds to the disclosed wallet address. With assets under management (AUM) exceeding $360 million, BITB solidifies its position as the fourth-largest spot Bitcoin ETF, following industry giants like Grayscale, BlackRock, and Fidelity, highlighting its significance in the expanding crypto investment landscape.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/bitwise-leads-transparency-in-crypto-with-public-bitcoin-wallet-disclosure" rel="noopener noreferrer nofollow">Bitwise Leads Transparency in Crypto with Public Bitcoin Wallet Disclosure</a></h5>

Bitwise Leads Transparency in Crypto with Public Bitcoin Wallet Disclosure

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