- Bitwise Asset Management has become the first U.S. spot bitcoin ETF to publicly disclose its bitcoin address holdings, enhancing transparency by allowing anyone to directly verify the ETF’s holdings and flows on the blockchain.
- By publishing its on-chain addresses, Bitwise is setting a new standard for transparency and accountability in the ETF industry, addressing concerns around asset backing and allocation.
- Bitwise’s decision to voluntarily share its BTC address holdings helps position it as a leader in regulatory compliance and investor communication as the first SEC-approved spot bitcoin ETFs see high demand.
Bitwise Asset Management, a leading cryptocurrency asset management firm, has set a new precedent by becoming the first U.S. spot bitcoin exchange-traded fund (ETF) to publicly disclose its bitcoin address holdings.
Enhancing Transparency Through On-Chain Disclosure
Now anyone can verify BITB’s holdings and flows directly on the blockchain, the asset manager stated. “On-chain transparency is core to bitcoin‘s ethos. We’re proud to walk the walk with BITB.”
In a move that aligns with the growing demand for openness and accountability in the industry, Bitwise is providing investors and the public with real-time access to the Bitcoin addresses associated with its ETF holdings. This disclosure enhances transparency and attempts to foster trust by addressing concerns related to the verification of asset backing and allocation within the ETF.
Setting a New Standard in the ETF Industry
Publishing on-chain addresses is a first step toward increasing public transparency, Bitwise continued. As infrastructure evolves, we hope to do more such as working with firms like Hoseki to provide real-time cryptographic attestations.
The decision to publish BTC address holdings helps position Bitwise at the forefront of regulatory compliance and investor communication. By voluntarily sharing this information, Bitwise demonstrates a commitment to setting an industry standard and building credibility for bitcoin investment products.
Context Around the First Spot Bitcoin ETFs
Earlier this month, the United States Securities and Exchange Commission (SEC) officially approved the listing of the first-ever spot bitcoin ETFs. Since launch, the ETFs have seen billions of dollars in demand and have become the second largest ETF commodity in the country.
