ETF issuer Bitwise has announced a wallet address containing the holdings of its Bitcoin spot ETF (BITB) as a way to enhance on-chain transparency. After Bitwise disclosed the address, someone sent 6,969 sats to the Bitwise ETF. Bloomberg ETF analyst Eric Balchunas said, “I’m pretty sure this is the first time someone has donated an underlying asset to an ETF.” BITB has also become the only overcollateralized ETF currently available.
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BITB holds 11,858.63 BTC, which can be verified on-chain
Donation received immediately after address disclosure
Bitwise announced on its official Twitter (now X) that Bitwise Bitcoin ETF (BITB) has become the first Bitcoin ETF in the United States to disclose its holdings address. Anyone can directly verify the holdings and liquidity of BITB on the blockchain.
On-chain transparency is at the core of Bitcoin’s spirit. Releasing on-chain addresses is the first step in improving public transparency. With the development of infrastructure, we hope to do more, such as collaborating with hosekiapp to provide real-time cryptographic proof.
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According to its announcement, as of 1/23, BITB holds 11,858.63 BTC, valued at approximately $465 million. Its assets account for about 1% of the new Bitcoin spot ETFs (excluding GBTC and Hashdex, which convert futures to spot concurrently), currently ranking just below BlackRock, Fidelity, and Ark Investment.
After Bitwise disclosed the address, someone sent 6,969 sats to the Bitwise ETF.
Bloomberg ETF analyst Eric Balchunas quoted Alexander Leishman’s post and said:
“I’m pretty sure this is the first time someone has donated an underlying asset to an ETF. This market never has dull moments.”
Leishman even joked that Bitwise ETF is now the only overcollateralized ETF.
BITB
Bitwise
Further reading:
Bitwise: Bitcoin price selling pressure comes from excess expectations through spot ETFs
Bitcoin spot ETF approval imminent, winners are those with high issuance volumes