Bitcoin ETF

Bitcoin

Spot

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitwise’s Bitcoin ETF (BITB) is among the first spot bitcoin ETFs approved by the U.S. SEC.</li>
 <li>BITB’s digital asset custodian is Coinbase Custody Trust LLC and it publicly discloses its Bitcoin addresses.</li>
</ul>
<p>The Bitwise Bitcoin ETF (BITB) is a product of Bitwise Investment Advisors, a digital asset management firm. On January 11, 2024, it became one of the earliest spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs to receive approval from the U.S. Securities and Exchange Commission.</p>
<h2 id="understanding-spot-bitcoin-etfs">Understanding Spot Bitcoin ETFs</h2>
<p>A spot Bitcoin ETF allows investors to indirectly own Bitcoin while still benefiting from its price fluctuations. Investors can purchase shares of the ETF via their brokerage accounts. These shares represent a fraction of the Bitcoin owned by the fund. The ETF shares are traded on conventional stock exchanges, offering investors liquidity and easy access to Bitcoin.</p>
<h2 id="about-bitwise-and-bitb-fees">About Bitwise and BITB Fees</h2>
<p>Bitwise is a crypto asset management company that offers a variety of crypto investment funds, including index funds, liquid beta funds, and innovative strategies designed for diverse investor requirements. The firm is committed to delivering institutional-grade crypto investment products while emphasizing transparency, security, and regulatory compliance. BITB charges a sponsor fee of 0.20%, though this may vary.</p>
<p>Bitwise’s ETF stands out from other spot Bitcoin ETFs as it was the first to publicly disclose its Bitcoin addresses. This decision was made in the interest of on-chain transparency. Bitwise’s BITB is also one of the few spot Bitcoin ETFs listed on NYSE Arca, alongside Grayscale Investment’s GBTC and Hashdex’s DEFI funds.</p>
<h2 id="custodianship-of-bitb-s-bitcoin">Custodianship of BITB’s Bitcoin</h2>
<p>The digital asset custodian for the ETF is <a href="https://crypto.ro/en/exchange/gdax/" rel="noopener noreferrer nofollow">Coinbase</a> Custody Trust LLC, a popular choice for spot Bitcoin ETF issuers. The trust custodian for the fund is BNY Mellon.</p>
<p>Bitwise made its Bitcoin addresses public on January 24, 2024.</p>

Unlocking the Mystery: Understanding Bitwise’s BITB Spot Bitcoin ETF

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