On Tuesday, Bitwise Investments disclosed a collection of Ethereum Name Service (ENS) subnames for its ethereum reserve holding wallets. Bitwise emphasized that this level of transparency is unique to cryptocurrency, allowing the public to easily verify the firm’s net assets.
Bitwise Leads in Transparency by Publishing Ethereum ETF Addresses
At 7:50 a.m. EDT on Tuesday, a little more than an hour before the spot ethereum exchange-traded funds (ETFs) began trading at 9:30 a.m., Bitwise posted its ethereum addresses on the social media platform X. “Today, the Bitwise Ethereum ETF (ETHW) became the first U.S. ETP to publish its Ethereum addresses and set ENS subnames for each address,” Bitwise wrote on X.
“This is the sort of transparency only crypto makes possible. It allows anyone to verify ETHW’s holdings and flows directly on the blockchain, and it lets people easily build public dashboards or write smart contracts that utilize the available ENS records,” explained on Tuesday.
The firm added:
We’re proud to bring onchain transparency to ETHW in an Ethereum-native way. We will add more addresses as the fund grows.
Other BTC-based ETFs have identifiable wallets, with Arkham Intelligence pinpointing several funds. Nevertheless, most U.S. BTC ETFs do not disclose their reserve wallet addresses. However, they all update their daily BTC reserve statistics on their websites. For example, Grayscale’s Ethereum Trust (ETHE) reports holding 2,629,468.67 ETH as of July 23, 2024, on its website. Grayscale has not shared its ETH or BTC reserve addresses with the public since its launch.
Source: Bitcoin
