Bitwise, a cryptocurrency asset management firm, has established a new standard as the first U.S. spot Bitcoin exchange-traded fund (ETF) to openly reveal its Bitcoin address holdings.

The account stated that "anyone can verify BITB's holdings and flows directly on the blockchain. Onchain transparency is core to Bitcoin's ethos. We're proud to walk the walk with BITB."

In a Cointelegraph interview with JAN3 CEO Samson Mow at the end of December, he stated, "as the ETF arms race escalates, I believe we will see one or more funds disclose their addresses in a bid to be viewed as the most transparent and reliable issuer."

Bitwise, aligning with the increasing call for transparency and accountability in the sector, grants investors and the public immediate insight into the Bitcoin addresses linked to its ETF holdings.

This move enhances transparency and builds trust, addressing issues of asset backing and allocation verification within the ETF.

"Publishing on-chain addresses is a first step toward increasing public transparency," Bitwise added. 

As infrastructure evolves, we hope to do more, such as working with firms like @hosekiapp to provide real-time cryptographic attestations.

This proactive sharing of information highlights Bitwise's commitment to setting a high standard in the industry and enhancing the credibility of Bitcoin investment options.

Earlier this month, the U.S. Securities and Exchange Commission (SEC) approved the first-ever spot Bitcoin ETFs. Since their inception, these ETFs have attracted billions in investment and rank as the country's second-largest ETF commodity.

Share this article
The link has been copied!