Bitwise Takes Lead as First US Bitcoin ETF

On January 24, 2024, Bitwise, a prominent digital asset manager, marked a historic moment by becoming the inaugural U.S. spot bitcoin exchange-traded fund (ETF) to publicly disclose its bitcoin wallet address.

Bitwise Takes Lead As First Us Bitcoin Etf To Publicly Share Wallet Address_65d5d102dae57.webp

Underlining its unwavering commitment to transparency, Bitwise declared its dedication, expressing pride in “walking the walk with BITB” and highlighting the centrality of “onchain transparency to Bitcoin’s ethos.”

Bitwise Raises the Bar: Groundbreaking Authentication for Onchain Spot Bitcoin ETF

Bitwise, the cryptocurrency asset management firm renowned for introducing the BITB U.S. spot bitcoin ETF, has achieved a significant milestone as the first ETF to authenticate its BTC reserves. This accomplishment closely follows Arkham Intelligence’s revelation of onchain BTC holdings for major players such as Blackrock, Bitwise, Fidelity, and Franklin Templeton.

In a notable move, Bitwise announced on the social media platform X, “Today, the Bitwise Bitcoin ETF (BITB) becomes the pioneering U.S. bitcoin ETF to disclose the bitcoin addresses of its holdings.” The post emphasizes the accessibility for anyone to verify BITB’s holdings and flows directly on the blockchain, reinforcing the core value of onchain transparency in alignment with Bitcoin’s ethos. The statement affirms Bitwise’s pride in “walking the walk with BITB.”

In addition, the company outlined its commitment to heightened public transparency, acknowledging that publishing onchain addresses marks just the initial stride. As the technological infrastructure progresses, Bitwise aspires to expand its transparency initiatives, considering collaborations with entities like [Hoseki App] for real-time cryptographic attestations.

Related: Upcoming Massive Bitcoin Release from Mt. Gox Set to Impact the Market

Bitwise aligns itself with the prevailing trend among centralized exchange (cex) platforms, which have bolstered their proof-of-reserve (POR) attestations in the past year. The surge in the adoption of POR systems, traditionally in minimal use, gained momentum after the FTX collapse, prompting exchanges to adopt a more transparent approach in disclosing information about their crypto reserves.

Bitwise Takes Lead as First US Bitcoin ETF to Publicly Share Wallet Address

As of 4:40 p.m. Eastern Time (ET) on January 24, 2024, Bitwise’s wallet, labeled as “1CKVs,” possesses 11,858.64 BTC, valued at around $470.74 million based on current exchange rates. Since its inception on January 11, 2024, a total of 17 transactions have occurred within this wallet. Ranked 71st among the top 100 wealthiest bitcoin addresses, the Bitwise wallet has not executed any satoshi transfers since its creation. The industry awaits to see whether other spot bitcoin ETFs will follow suit in adopting a comparable approach to address verification.

5.0/5

(100 votes)

Latest

Azcnews El Salvador To Mine $3 Trillion In Gold To Buy Bitcoin

News | Bitcoin | Editor Choice

El Salvador to Mine $3 Trillion in Gold to Buy Bitcoin

El Salvador has $3 trillion in gold reserves, and analysts suggest they should use this money to buy more Bitcoin.

Azcnews Bitcoin Signals Point To A Potential Rise To $105k

News | Analytics | Bitcoin | Editor Choice

Bitcoin Signals Point to a Potential Rise to $105K

The recent price correction has caused Bitcoin to liquidate a large amount of leverage, creating a cushion for the price to possibly rise to $105K.

Microsoft Refuses To Buy Bitcoin As Reserve Asset

Bitcoin | Editor Choice | News

Microsoft Refuses to Buy Bitcoin as Reserve Asset

Microsoft shareholders have decided to reject the purchase of Bitcoin as a reserve asset due to its high volatility.

Donald Trump's Son Predicts Bitcoin Will Reach $1 Million

News | Bitcoin | Editor Choice

Donald Trump’s Son Predicts Bitcoin Will Reach $1 Million

Eric Trump, the son of U.S. President Donald Trump, predicts that Bitcoin will reach $1 million in the future.

5 Reasons Driving Bitcoin Price Surge In December

Bitcoin | Editor Choice | News

5 Reasons Driving Bitcoin Price Surge in December

Despite the significant correction in Bitcoin, there are 5 signs indicating that December could continue to be another strong bullish month for Bitcoin.