Identification of Four Spot Bitcoin ETFs Onchain
On January 23, Arkham, a company specializing in onchain intelligence, announced the discovery of four lists of connected addresses linked to four new spot bitcoin exchange-traded funds (ETFs). These groups of addresses are reportedly associated with fund managers including Blackrock, Fidelity, Bitwise, and Franklin Templeton.
Arkham Intelligence Uncovers Four ETFs
According to Arkham Intelligence, the firm has identified four out of ten spot bitcoin ETFs. This latest revelation means that Arkham has now identified half of the ETFs in the U.S. market. “Arkham has identified the onchain location of four of the bitcoin ETFs,” the company stated. “We are the first to publicly identify these addresses.”
Blackrock, Fidelity, and Franklin Templeton ETFs Found
Arkham unveiled the initial list of addresses allegedly belonging to Blackrock and linked to the IBIT ETF. The identified addresses, however, contain less bitcoin than reported by IBIT. Franklin Templeton’s EZBC ETF has also been pinpointed, with its onchain holdings aligning with the asset manager’s reported figures. Fidelity’s Wise Origin spot bitcoin ETF, FBTC, was found to possess a consistent amount of bitcoin as reported in their latest update.
Bitwise’s ETF and Coinbase Custody
Bitwise’s BITB fund was identified with its corresponding onchain holdings. Coinbase Custody manages the assets of all the aforementioned ETFs, except for Fidelity’s, as Fidelity uses its own custody services. Coinbase frequently appears as the primary counterparty in transactions of the other three ETFs, which significantly enhances market transparency.
Enhancing Transparency in the Crypto Market
Transparency is essential for building trust among investors and making informed decisions. By providing clear insights into fund operations and holdings, it strengthens the integrity and stability of the cryptocurrency market. This transparency is crucial for attracting more informed participation and investment in the crypto economy. Due to recent events, exchanges holding significant balances have started disclosing proof-of-reserve data, further enhancing transparency in the sector.
Hot Take: Enhancing Transparency for Crypto Investors
Arkham Intelligence’s identification of four spot bitcoin ETFs linked to major fund managers has shed light on the onchain location of these funds. This increased transparency can foster trust among investors and help them make more informed decisions. By disclosing holdings and transactions, the overall integrity and stability of the crypto market are strengthened. With exchanges increasingly providing proof-of-reserve data and onchain information becoming more accessible, the sector is moving towards greater transparency. This is vital for attracting investment and participation in the growing crypto economy.
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