Bitwise, a leading crypto asset manager, has broken ground by becoming the pioneer among the top ten spot bitcoin exchange-traded fund (ETF) issuers to disclose its digital wallet address publicly. In a noteworthy move, the San Francisco-based firm shared a screenshot showcasing the Bitwise Bitcoin ETF’s (BITB) bitcoin address and holdings, totaling 11,858 bitcoins as of January 23. This transparency initiative allows anyone to verify the fund’s holdings and transactions directly on the blockchain, aligning with bitcoin’s commitment to onchain transparency.
Bitwise emphasized the significance of onchain transparency within bitcoin’s ethos, taking pride in this groundbreaking step with BITB. The company aims to bolster public transparency further by exploring collaborations, including potential partnerships with firms like Hoeski to provide real-time cryptographic attestations. The disclosure of on-chain addresses addresses industry demands for detailed insights, particularly with the advent of spot bitcoin ETFs, mitigating concerns about financial opacity. Industry experts laud Bitwise’s move as a pivotal step toward onchain accounting, emphasizing the convergence of traditional finance (TradFi) and decentralized finance (DeFi).