Bitwise, a leading cryptocurrency asset manager, has set a new precedent by becoming the first U.S. bitcoin spot trading fund (ETF) to publicly disclose its holdings of bitcoin addresses.
“Now anyone can verify BITB holdings and flows directly on the blockchain,” the asset manager stated. “Onchain transparency is at the core of Bitcoin’s spirit. We are proud to partner with BITB.”
In a move in line with the growing demand for openness and accountability in the industry, Bitwise is providing investors and the public with real-time access to Bitcoin addresses linked to exchange-traded fund (ETF) holdings. This disclosure promotes transparency and attempts to enhance trust and address concerns related to the verification of asset backing and allocation within the ETF.
“Publishing addresses on-chain is a first step toward increasing public transparency,” Bitwise continued. “As the infrastructure develops, we hope to do more, such as working with companies like Husky App to provide real-time crypto certificates.”
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 is demonstrating its commitment to setting industry standards and building credibility for Bitcoin investment products.
Earlier this month, the US Securities and Exchange Commission (SEC) officially approved the listing of the first-ever Bitcoin spot ETFs. Since their launch, ETFs have seen billions of dollars in demand and have become the second largest commodity ETF in the country.
