Bitwise Asset Management has disclosed the bitcoin address holding the coins acquired for the Bitwise Bitcoin ETF (BITB).
Announcement: Today the Bitwise Bitcoin ETF (BITB) becomes the first U.S. bitcoin ETF to publish the bitcoin addresses of its holdings.
Now anyone can verify BITB’s holdings and flows directly on the blockchain.
Onchain transparency is core to Bitcoin’s ethos. We’re proud to… pic.twitter.com/1JTUh3zvDE
— Bitwise (@BitwiseInvest) January 24, 2024
At the time of writing, the address holds 11,858.64 BTC ($474.3 million).
“Anyone can verify BITB’s assets and flows directly on the blockchain. Onchain transparency is core to Bitcoin’s ethos. We are proud to be on this path with BITB,” the company commented on the decision.
Bitwise explained that this initiative is just the first step in their mission.
“As infrastructure develops, we hope to do more. For example, collaborating with firms like Hoseki to provide real-time cryptographic proofs,” the statement reads.
Earlier in January, the SEC announced the approval of 11 applications for spot bitcoin exchange-traded funds. Bitwise was among the approved issuers.
Previously, analysts at K33 Research ranked BITB third in terms of fund inflows since the product’s approval among competitors.