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ARKB Dune dashboard launched! The Ark's Bitcoin spot ETF asset under management has reached 620 million.

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ARKB Dune dashboard launched! The Ark

In response to the launch of the Bitcoin spot ETF ARKB, 21Shares and Ark Invest jointly released a new DuneAnalytics dashboard, allowing investors to monitor the amount of Bitcoin held by ARKB at any time. ARKB currently has assets under management of 620 million, with 16% of it purchased by Ark's another fund, ARKW.

Reasons for ARKB's Non-Disclosure of Wallet Addresses

The dashboard is primarily designed to enhance transparency and provide a clear view of the total amount of Bitcoin held by ARKB. However, for security reasons, ARKB will not disclose specific wallet addresses. The reasons are as follows:

  • Dusting attacks: Since wallets are essentially permissionless, public addresses may receive small, unsolicited amounts of tokens in so-called dusting attacks. This could pose compliance challenges, such as transactions being flagged as "risky," or result in the fund holding unauthorized assets.
  • Operational security measures: Exposed addresses need to create new wallets and retire old ones to maintain security in case of any future changes.
  • Geopolitical risks: Disclosing wallet addresses can bring operational and geopolitical risks, especially for countries subject to economic or trade sanctions.

Contrarily, another Bitcoin spot ETF issuer, Bitwise, was the first to disclose wallet addresses holding Bitcoin on 1/24 and immediately received 6,969 sats.

Bitwise disclosed the wallet address for their Bitcoin spot ETF BITB and immediately received 6969 sats.

Security Measures Used by ARKB

ARKB also emphasizes that they employ a series of security measures, including:

  • Isolated wallets: Utilizing a multi-wallet structure to ensure funds are clearly separated, maintaining asset security, accurately tracking settlement processes, and strictly limiting wallet balances to ensure all assets are safeguarded.
  • Multi-signature agreements: Transactions must be signed by multiple pre-approved parties to be executed. Without additional approval, no individual has the authority to transfer assets.
  • Maker-checker policy: A balanced two-step process requiring authorized transaction parties, such as issuers and custodians, to review and approve.
  • Assets stored through institutional Bitcoin custodians in cold storage.
  • Assets held by third-party custodian institutions are isolated to ensure maximum asset integrity.

Current Performance of ARKB

According to Ark's announcement, their fund ARKB held a total of 14,390 Bitcoins as of 1/29, equivalent to approximately $620 million.

However, it is observed that their other fund, ARKW, has purchased a total of $102 million worth of ARKB, accounting for a high percentage of 16%.