In an industry first, Bitwise releases the BTC address of its Bitcoin ETF.

10 months ago 71

Industry-first initiative to increase transparency

Bitcoin ETF issuer Bitwise has announced that it has become the first US Bitcoin ETF to publicly disclose the digital wallet addresses of its BTC holdings.

The Bitcoin spot ETF provided by Bitwise is “BITB”, and the address of the BTC it holds is “1CKVszDdUp4ymGceAZpGzYEFr4RPNHYqaM”. It currently holds 11,858.63 BTC (equivalent to $470 million).

Also, according to yesterday’s data, nine Bitcoin spot ETFs, including BlackRock, excluding Grayscale’s GBTC, currently hold and manage 109,221 (approximately $4 billion) of virtual currency BTC. did.

connection: 9 Bitcoin ETFs including BlackRock bought over 100,000 BTC in the past week

Regarding the address disclosure, Bitwise said, “Now anyone can directly check BITB’s holdings and flows on the blockchain,” and “Disclosing on-chain addresses is the first step toward increasing transparency.” That’s it,” he said.

Announcement: Today the Bitwise Bitcoin ETF (BITB) becomes the first US 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

Bitwise is a pioneering cryptocurrency investment trust, and recently announced plans to donate 10% of BITB’s profits to support the open source development of Bitcoin.

connection: Bitwise to donate 10% of Bitcoin ETF profits to open source development

GBTC selling continues

While there are inflows from BlackRock, Fidelity, and Bitwise, GBTC outflows continue.

Following the redemption of $515 million worth of BTC the previous day, there was an outflow of $580 million worth of BTC on the 24th. In the first eight days of trading, total outflows from GBTC were $3.96 billion.

BREAKING: $GBTC (@Grayscale SPOT $BTC ETF) SENDS ~$580M WORTH OF $BTC T.O. @coinbase PRIME-LABELLED ADDRESSES pic.twitter.com/fMJ5tXz4Fo

— DEGEN NEWS (@DegenerateNews) January 24, 2024