Why did bitwise publish the on chain holding address?

https://www.coindesk.com/markets/2024/01/24/bitwise-becomes-first-spot-bitcoin-etf-provider-to-provide-wallet-address/

> sell more because of increased transparancy

I would correct that as increased _illusion_ of transparancy. Don't think majority of ETF buyers care about this.

south_korea_ln

That would probably increase the ETF expense ratio to pay the guy that update the website everyday :)))

Anonymous_Hodler

cryptofolyo

The ETF can publish in a centralised website the following details in a verifiable manner.

bitcoin


# BitcoinETF Transparancy Protocol - BTP

## Objective :
- Bringing the transparancy to Bitcoin ETF. Any ETF who adopt this method should be able to sell more because of increased transparancy. Bitwise has already published their on chain account address. But it does not ensure that Bitwise has utilised all the money collected from individuals to buy bitcoin as the quantity of each individual buy is not known publically.

## Goals :
- Ensuring that the Bitcoin ETF has enough reserve of Bitcoin in its onchain account
- Ensuring that each of the individual buying of the ETF is reflected on a Public ledger that anyone can verify

## Method Suggested: 
The ETF can publish in a centralised website the following details in a verifiable manner.
1. Anonymised Transaction ID for each ETF purchase that can be verified by the ETF holder with date, quantity and folio number on the ETF website
2. The total count of ETF units issued should be verifiable from this 
3. The bitcoin on chain account should be published as a proof of reserve so that anyone can verify the quantity of Bitcoin held by that ETF 

## Example

![onchain.png](https://m.stacker.news/13785)

BitcoinETF Transparancy Protocol - BTPBitcoinETF Transparancy Protocol - BTP

Objective :Objective :

Goals :Goals :

Method Suggested:Method Suggested:

ExampleExample