{"id":10139,"date":"2024-01-25T16:27:19","date_gmt":"2024-01-25T14:27:19","guid":{"rendered":"https:\/\/forklog.com\/en\/bitwise-bitcoin-etf-wallet-receives-donations-as-inscriptions\/"},"modified":"2024-01-25T16:27:19","modified_gmt":"2024-01-25T14:27:19","slug":"bitwise-bitcoin-etf-wallet-receives-donations-as-inscriptions","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitwise-bitcoin-etf-wallet-receives-donations-as-inscriptions\/","title":{"rendered":"Bitwise Bitcoin ETF Wallet Receives Donations as &#8216;Inscriptions&#8217;"},"content":{"rendered":"<p>The bitcoin address designated for holding acquired Bitwise Bitcoin ETF (BITB) coins <a href=\"https:\/\/geniidata.com\/ordinals\/address\/1CKVszDdUp4ymGceAZpGzYEFr4RPNHYqaM\">received<\/a> donations primarily in the form of &#8216;inscriptions&#8217;.<\/p>\n<p>Hours earlier, the product issuer Bitwise Asset Management disclosed information about the product&#8217;s wallet.<\/p>\n<p>At the time of writing, the <a href=\"https:\/\/mempool.space\/address\/1CKVszDdUp4ymGceAZpGzYEFr4RPNHYqaM\">address<\/a> contains 16,773 &#8216;inscriptions&#8217; valued at over $6,000. Among them are RSIC airdrops, Bitcoin Punk, Bitcoin Burials, and Quadkey.<\/p>\n<p>The address also received thousands of BRC20 tokens with invalid balances.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-887.webp\" alt=\"1-887\" class=\"wp-image-224713\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/geniidata.com\/ordinals\/address\/1CKVszDdUp4ymGceAZpGzYEFr4RPNHYqaM\">Geniidata<\/a>.<\/figcaption><\/figure>\n<p>The community welcomed Bitwise&#8217;s initiative to disclose the bitcoin address. Some were &#8216;shocked&#8217; by the absence of test transactions before transferring 12,000 BTC to the wallet.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Very cool. However, it would be nice to see at least one transaction spending FROM the address. Honestly kind of shocked they didn&#8217;t test that before throwing ~12k BTC in there ? <a href=\"https:\/\/t.co\/RpNqyWBs1T\">https:\/\/t.co\/RpNqyWBs1T<\/a> <a href=\"https:\/\/t.co\/DtSC09D9rs\">https:\/\/t.co\/DtSC09D9rs<\/a> <a href=\"https:\/\/t.co\/rKDSgTsWaf\">pic.twitter.com\/rKDSgTsWaf<\/a><\/p>\n<p>\u2014 Alexander Leishman ?? (@Leishman) <a href=\"https:\/\/twitter.com\/Leishman\/status\/1750248028257001531?ref_src=twsrc%5Etfw\">January 24, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Others questioned the asset manager&#8217;s use of multisignature, suggesting it indicates a low level of wallet security.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">While the transparency is cool\u2026 WTF at putting half a billion dollars into a single pay-to-pubkey-hash address.<\/p>\n<p>That&#8217;s completely insane. Use multisig. And prove to the world that you&#8217;re using multisig. <a href=\"https:\/\/t.co\/ULCQUkIbCE\">https:\/\/t.co\/ULCQUkIbCE<\/a><\/p>\n<p>\u2014 Peter Todd\/mempoolfullrbf=1 (@peterktodd) <a href=\"https:\/\/twitter.com\/peterktodd\/status\/1750242611959320596?ref_src=twsrc%5Etfw\">January 24, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;While transparency is cool [\u2026], what the heck is the point of putting half a billion dollars into one address? That&#8217;s complete madness. Use multisig and prove it to the world,&#8221;<\/em> lamented a user.<\/p>\n<\/blockquote>\n<p>Earlier, K33 Research analysts ranked BITB third in terms of fund inflows since the product&#8217;s approval among competitors.<\/p>\n<p>Previously, Bitcoin Treasuries estimated the volume of coins held by bitcoin <span data-descr=\"exchange-traded product\" class=\"old_tooltip\">ETP<\/span> issuers at 832,432 BTC, equivalent to 3.96% of the current issuance of the first cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bitcoin address designated for holding acquired Bitwise Bitcoin ETF (BITB) coins received donations primarily in the form of &#8216;inscriptions&#8217;. Hours earlier, the product issuer Bitwise Asset Management disclosed information about the product&#8217;s wallet. At the time of writing, the address contains 16,773 &#8216;inscriptions&#8217; valued at over $6,000. Among them are RSIC airdrops, Bitcoin Punk, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1320,949,1325,569,1176],"class_list":["post-10139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-address","tag-bitwise","tag-brc-20","tag-etf","tag-ordinals"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10139"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10139\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10138"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}