Bitwise Bitcoin ETF (BITB) Becomes First US-Listed Spot Bitcoin ETF to Publish Wallet Address
On January 24, Bitwise Asset Management announced that BITB had become the first US-listed spot Bitcoin ETF to publish the wallet address for its BTC holdings. This allows anyone to verify the ETF’s holdings and flows directly on the blockchain and aligns with the core ethos of Bitcoin, emphasizing on-chain transparency.
Bitwise’s Commitment to Transparency
Bitwise expressed pride in adhering to this principle and emphasized its commitment to walking the walk with BITB. The firm views the publication of on-chain addresses as just the beginning of its journey towards enhancing public transparency and anticipates further advancements in infrastructure.
Desire for Collaboration
Bitwise expressed a desire to collaborate with companies like Hoseki to provide real-time cryptographic attestations, further solidifying the transparency and reliability of their ETF. Analyst Joe Burnett expressed his approval and proposed an innovative idea to enhance the security and decentralization aspect of the ETF.
Sending Satoshis to the Address
Shortly after Bitwise’s announcement, someone decided that it would be a good idea to send some satoshis to this address, which raised the question of whether the action was compliant with OFAC regulations.
Hot Take: Mixed Reactions to Bitwise’s Transparency Move
While the move by Bitwise to publish the wallet address for its BITB holdings has been praised for enhancing transparency, there are also concerns about the security and compliance implications of sending Bitcoin to this address.
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