Asset management firm Bitwise has revealed the Bitcoin (BTC) addresses of its BTC spot exchange-traded fund approximately two weeks after the listings became available for trading.
In Post X on January 24, the firm announced that “anyone can check” the holdings of its Bitcoin ETF Bitwise under the ticker symbol BITB on the New York Stock Exchange Arca. At the time of publication, the address provided by Bitwise contained 11,858.63 BTC, worth approximately $465 million.
“Chain transparency is at the core of Bitcoin’s ethos,” Bitwise said. “We are proud to walk alongside BITB […] Publishing network addresses is the first step towards increasing public transparency.”
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
The US Securities and Exchange Commission (SEC) on January 10 approved a spot Bitcoin ETF offering from Bitwise, as well as 10 other applications from asset managers. It is unclear whether other companies plan to publish BTC addresses for their investment vehicles in the future. On January 22, Arkham Intelligence said it had identified several wallets associated with ETFs, including Bitwise, BlackRock, Fidelity and Franklin Templeton.
Related: Bitwise Launches Crypto ETF Media Campaign Featuring 'The Most Interesting Man in the World'
Bitwise co-founder and CEO Hunter Horsley said on X that the firm released the BTC address in response to “clear feedback” from investors. Poll X, conducted by Horsley on January 23, showed that 91.1% of 2,416 respondents support making BTC assets public.
“Bitwise is the first and almost certainly not the last company to publish its Bitcoin address for BITB,” said ETF analyst James Seyffart at X.
About seven days after its launch, BITB ranked in the top 5% of ETFs by assets under management in 2023. Net outflows from all spot BTC ETFs totaled approximately $76 million on the seventh day of trading, with Grayscale's GBTC leading the list of largest net outflows.