As a seasoned crypto investor with years of experience in this dynamic and evolving market, I’m thrilled to witness Bitwise’s latest move towards greater transparency with their new Ethereum exchange-traded fund (ETF), ETHW. The disclosure of Ethereum wallet addresses and creation of Ethereum Name Service (ENS) subnames is a significant step that resonates deeply with me, as it aligns with my belief in the importance of transparency and accountability in the crypto space.
Starting Tuesday, Bitwise’s Ethereum (ETH) exchange-traded fund called ETHW is among several similar products slated to debut in the US market. The funds have made their wallet addresses publicly available through the cryptocurrency asset management.
On Tuesday, Bitwise made history as the initial US-based Ethereum Exchange Traded Fund (ETF) to unveil its Ethereum wallet addresses and establish Ethereum Name Service (ENS) aliases for each one, going against an earlier promise to do so.
Using Ethereum Name Service (ENS), users can simplify intricate Ethereum addresses into convenient labels such as “alice.eth.” This facilitates the process of sending and receiving transactions.
In a company announcement, they highlighted that cryptocurrency is the sole medium enabling such transparency. It facilitates the creation of public dashboards and smart contracts using accessible ENS records. Moreover, it empowers everyone to independently verify Ethereum WoW (ETHW) balances and transactions on the blockchain.
Ethereum Name Service announced its excitement over partnering with Bitwise to boost transparency for their newly launched Ethereum ETF. With the use of subdomains such as ethw.bitwise.eth, ETHW has become the most crypto-native ETF.
Bitwise intends to expand the number of addresses in the future, providing the most recent information on ethwetf.com. This move is an extension of their transparency initiative, which began in January with the public disclosure of Bitcoin addresses associated with its spot Bitcoin ETF, BITB.
Companies vying for inclusion in an Ethereum ETF secured the final approval required for their products to begin trading this week, effective as of Monday when their registration statements became valid.
On Monday afternoon, the Securities and Exchange Commission (SEC) gave its approval for registration forms relating to Ethereum ETFs from 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck, Invesco, Grayscale’s Ethereum Trust, and Grayscale’s Ethereum Mini Trust.
Coinbase has been selected by Bitwise as their digital asset custodian. This means that Ethereum Classic (ETHW) will be available for trading on the New York Stock Exchange (NYSE). The fund carries a management fee of 0.2%, which is lowered to zero for the initial $500 million worth of assets.
On Monday, Bitwise announced that 10% of the earnings from their newly launched Ethereum ETF will be given as donations to open-source Ethereum project developers.
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2024-07-23 20:04