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Bitwise has announced the Bitcoin spot ETF BITB wallet address, and immediately received 6969 sats.

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Bitwise has announced the Bitcoin spot ETF BITB wallet address, and immediately received 6969 sats.

The ETF issuer Bitwise has disclosed the wallet address holding the Bitcoin spot ETF BITB to enhance transparency on the chain. Following the address disclosure by Bitwise, someone sent 6,969 sats to the Bitwise ETF. Bloomberg ETF analyst Eric Balchunas stated: "I'm pretty sure this is the first time someone has donated the underlying asset to an ETF." BITB has also become the only overcollateralized ETF at present.

BITB holds 11,858.63 Bitcoins, anyone can query on-chain

Bitwise announced on its official Twitter that Bitwise Bitcoin ETF BITB has become the first Bitcoin ETF in the United States to publicly disclose its Bitcoin addresses. Anyone can verify the amount and movement of BITB directly on the blockchain.

Transparency on the chain is at the core of Bitcoin's spirit. Releasing on-chain addresses is the first step in increasing public transparency. With the development of infrastructure, we hope to do more, such as partnering with hosekiapp to provide real-time cryptographic proofs.

According to its announcement, as of 1/23, BITB holds 11,858.63 Bitcoins, worth approximately $465 million. Its asset size accounts for about one-tenth of the new Bitcoin spot ETF excluding GBTC and futures converted to spot by Hashdex, currently ranking just below BlackRock, Fidelity, and Ark Investment.

Donations sent immediately after address disclosure

After Bitwise disclosed the address, someone sent 6,969 sats to the Bitwise ETF.

Bloomberg ETF analyst Eric Balchunas quoted a post from Alexander Leishman, saying:

I'm pretty sure this is a first for an ETF - someone donating to the fund's underlying assets. Never a dull moment in this market.

Leishman further joked that the Bitwise ETF is currently the only over-collateralized ETF.