Bitwise puts transparency in the Spot Bitcoin ETF.

Asset management firm Bitwise has revealed that its Bitcoin exchange-traded fund (ETF) holdings and flows are directly visible to the public.

This has led to speculation in the crypto community that other recently approved positions Bitcoin ETF applicants will follow a similar transparent approach.

First of all, Bitwise claims to make a significant statement

In a statement issued by X (formerly Twitter), the investment firm announced itself as the first asset management firm among Bitcoin ETF applicants recently approved to provide this level of disclosure.

“Today, Bitwise Bitcoin ETF (BITB) becomes the first US bitcoin ETF to publish the bitcoin addresses it holds.”

The US Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETF applications on January 11. One of them is BlackRock, the world's largest asset manager, with more than $9 trillion in assets under management.

This comes after a long and complex review between the regulator and asset management firms.

Read more: What is a Bitcoin ETF?

Bitwise suggests that more transparent Bitcoin ETF activities are coming

However, Bitwise explains that this marks the beginning of its efforts to increase confidence in the Bitcoin market.

“Publishing on-chain addresses is a first step in increasing public transparency. As infrastructure improves, we hope to do more.”

Despite the widespread negative press of the crypto market in recent years, the community was supportive of Bitwise's latest move.

Meanwhile, many believe it will lead the way for other asset management firms to do the same.

Read more: How to prepare for BitcoinETF: a step-by-step approach

“Good for leading the way,” replied Samson Mow, on the other hand, saying that Bitcoin analyst The Rational Root sent us a prompting request for this.

But I did not expect such quick results.

This follows recent news that Bitwise will donate 10% of all profits from its spot Bitcoin ETF to the industry.

Just one day after the adoption of the Bitcoin ETF, Bitwise CEO Hunter Horsley announced his intention to support Bitcoin developers. This is to ensure that they continue their vital work for the industry.

“Bitcoin was launched 15 years ago without fundraising and has always been maintained by a community of open source developers.”