Summary
Bitwise has disclosed the address of its bitcoin ETF’s holdings as a way to increase public transparency. Other internet sleuths have also managed to track down the addresses of bitcoin ETF issuers such as Grayscale and BlackRock. The bitcoin ETFs have experienced volatility since their approval by the Securities and Exchange Commission, with Grayscale seeing significant outflows. The SEC’s official X account was previously compromised, leading to a fake ETF approval post, but the bitcoin ETFs were ultimately approved the following day.
Key Points
1. Bitwise has publicly disclosed the address of its bitcoin ETF’s holdings as a step towards increasing public transparency. Other issuers, including Grayscale and BlackRock, have also had their addresses tracked down by internet sleuths.
2. The bitcoin ETFs had a difficult start after receiving approval from the Securities and Exchange Commission. Grayscale, in particular, has experienced significant outflows, potentially due to the FTX estate unloading its GBTC holdings. GBTC currently holds around $21 billion in assets.
3. Prior to the official approval of the bitcoin ETFs, an attacker accessed the SEC’s official X account and made a fake ETF approval post. SEC Chair Gary Gensler confirmed that the post was unauthorized, and the bitcoin ETFs were approved the following day.