PUBLIC AUDITABILITY and PRIVATE OWNERSHIP can safely coexist with Bitcoin.
This is a unique superpower of Bitcoin.
Bitwise will continue to champion this unique property in our bitcoin ETFs.
To be clear, publishing addresses isn't a panacea. You still need auditors for attestation on the liability side. You need to be mindful of operational business privacy concerns.
But for public investment vehicles like bitcoin ETFs where all of this information (e.g. custodian, daily inflows/outflows, etc) is already public, the bias should be greatly towards publishing your addresses. It increases public confidence for your products and for the network as a whole.
Below is a screenshot of a webpage that mempool dot space (a popular bitcoin block explorer) built for our bitcoin ETF (BITB), completely independent of Bitwise, utilizing our published addresses: bitwise.mempool.space/wallet/BITB
Anyone can verify that the aggregate balance of bitcoin in our addresses on the mempool page match what is disclosed on our site: bitbetf.com
You might think this is trivial. You already trust KPMG (KPMG is our auditor for BITB) so who is this helping? Well, every six months there's a crisis of confidence in bitcoin ETFs with claims that the ETFs don't have the bitcoin. That the ETFs are lending out the bitcoin. All of this is completely unproductive noise that our space would be able to move past if public investment vehicles like bitcoin ETFs took additional steps to publish their addresses. We're 1 year into launch and BITB is still the only US bitcoin ETF that publishes its addresses.
We believe publishing bitcoin addresses for BITB serves the interest of public investors and the Bitcoin network and ecosystem as a whole and we're committed to this practice at Bitwise.
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BITB Disclosures & Prospectus: http://bitbetf.com/welcome. BITB is not an investment company registered under the Investment Company Act of 1940 and is not afforded its protections. BITB is not suitable for all investors. BITB is subject to significant risk and heightened volatility.
Extremely excited to have the legendary Jonathan Bier joining Bitwise as an advisor.
He is the author of âThe Blocksize Warâ, the man behind the famous BitMEX Research blog and previous Developer Grants program, and someone whoâs cared for Bitcoin incredibly deeply for so long. I personally respect him a lot.
Jonathan will advise us on how to best support team Bitcoin!
we paid out the donation in bitcoin though!
Donation by Bitwise Investment Advisers, LLC, the Fundâs Sponsor.
For more information, visit bitbetf.com.
RISKS AND IMPORTANT INFORMATION
This material must be preceded or accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit bitbetf.com/welcome.
BITB is not suitable for all investors. An investment in BITB is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. BITB is not an investment company registered under the Investment Company Act of 1940 (the â1940 Actâ) and therefore is not subject to the same protections as mutual funds or ETFs registered under the 1940 Act. An investment in BITB is not a direct investment in bitcoin.
Bitwise Investment Advisers, LLC serves as the sponsor of the fund. Foreside Fund Services, LLC serves as the Marketing Agent for BITB, and is not affiliated with Bitwise Investment Advisers, LLC, Bitwise or any of its affiliates.
Today, Bitwise is donating $150,000 to support Bitcoin open-source developers, who work tirelessly to secure and maintain the network.
When the Bitwise Bitcoin ETF (BITB) launched, we committed to donating 10% of its gross profits each year. Weâre delighted to make good on that promise with this first annual donation.
Three fantastic non-profit organizations with established track recordsâBrink, nostr:nprofile1qqs8suecw4luyht9ekff89x4uacneapk8r5dyk0gmn6uwwurf6u9rusdepqk6, and nostr:nprofile1qqs0rxy6jmt44guxkny8z4pkym9mxckqxfytygxuntjn6l80hj409sgy2hv7wâwill allocate the funds. Weâre grateful for the work they do.
Thank you to the investors whoâve chosen Bitwise and BITB among many options. This donation is made possible because of your choice. We hope youâre as proud as we are to support Bitcoin open-source developers!
yeah agreed on all of this. need be okay with missing the popular thing for the sanity and authenticity
yeah it takes more conscious effort to curate if you go following but there is definitely more meaning to your feed that way
i like the ppl here and would like to keep in touch with them and a light way to keep in touch is flowing their public thoughts
yeah itâs useful as like check the front page of the newspaper type way
great to be back! never truly left (iâve been a lurker) but good to be back to the original mode đ
was reflecting on when i fell off the habit of opening nostr everyday and it was when i changed the sorting algo on primal to âtrending 24hrâ
at the time i was traveling with limited time and thought it would help see the important notes at a glance but i think what actually happened was that nostr became more like an impersonal news site to me (akin to hacker news) and less of a social app that i spend time with ppl everyday
changed the algo back to chronological notes from ppl i follow. weâll see if this does the trick!
thank you! yeah iâm back
excited to share today that bitwise acquired etc group!
they are an exceptional team that manages the largest spot bitcoin ETP in europe (BTCE)
this deal:
- brings bitwise's bitcoin ETP AUM >55,000 btc (>$3B)
- expands our market to EU
grateful and excited for what's ahead â
i agree bitcoin / LN + nostr can do a lot. donât know if it can do everything and ethereum currently does nothing but i agree that the vc pump for vaporware stuff can be frustrating and damaging
yeah i do wonder why stablecoin issuers like tether havenât used sidechains like liquid. do you have a view?
