ETF provider Bitwise publishes its Bitcoin addresses for Spot ETF

Bitwise, an asset management company, has released the Bitcoin addresses associated with its spot Bitcoin exchange-traded fund (ETF).

This announcement comes about two weeks after shares of the Bitwise Bitcoin ETF (BITB) became available for trading.

Bitwise announced the news via Twitter on January 24, inviting the public to verify the holdings of its Bitwise Bitcoin ETF on the New York Stock Exchange Arca. The provided Bitcoin address revealed a holding of 11,858.63 BTC, or approximately $465 million.

On January 10, the US SEC accepted eleven applications from various asset management companies, including Bitwise’s spot Bitcoin ETF.

The move to disclose Bitcoin addresses is consistent with the Bitcoin ethos, which emphasizes transparency in on-chain activities.

Bitwise emphasized the importance of on-chain transparency, saying, “Publishing on-chain addresses is a first step toward increasing public transparency. As infrastructure evolves, we hope to do more, such as working with firms like @hosekiapp to provide real-time cryptographic attestations.”

On January 22, Arkham Intelligence reportedly discovered several ETF-related wallets, including those from Bitwise, BlackRock, Fidelity, and Franklin Templeton. Following clear feedback from investors, Bitwise decided to reveal its Bitcoin address.

In a Twitter poll conducted by Bitwise co-founder and CEO Hunter Horsley, 91.1% of the 2,416 participants voted to make BTC holdings public.

Bitwise’s decision to reveal Bitcoin addresses is regarded as a pioneering step in the industry, and other asset management firms may follow suit.