Crypto investment supervisor Bitwise has shared the on-chain wallet address of its Bitcoin alternate-traded fund BITB.

The wallet presentations that BITB has 11,858 BTC in the fund, valued at over $465 million on the time of writing.

“Now anybody can check BITB’s holdings and flows directly on the blockchain. Onchain transparency is core to Bitcoin’s ethos. We’re proud to stroll the stroll with BITB,” said Bitwise on X.

The firm furthermore said publishing the fund’s on-chain address used to be the first step in direction of increasing public transparency, and that it hopes to attain more as infrastructure evolves. Bitwise is working with Proof-of-Funds infrastructure company Hoeski on offering accurate-time cryptographic attestations.

The transfer, which makes Bitwise the first space Bitcoin ETF issuer to part their wallet address with the public, used to be considered as a welcome pattern by contributors of the crypto community.

Some customers even went so a long way as to donate exiguous amounts of Bitcoin to the Bitwise ETF, sending satoshis in instalments of “42069” which amounts to around $16. A satoshi, or “sat” is the smallest unit of measure for the price of Bitcoin and 100 million sats equals one Bitcoin.

Others speculated that the public wallet address may perchance presumably perchance conclude in the fund’s Catch Asset Worth (NAV) being manipulated by customers sending funds to the address.

“I’m seeking to wrap my head around it because the kind sources accumulate into an ETF is easiest thru the AP [Authorized Participant] giving the issuer money. This bypasses all that however no novel shares created,” said Bloomberg ETF analyst Eric Balchunas on X.

BITB has over $360 million in sources underneath administration (AUM) and is the fourth-ideal space Bitcoin ETF after Grayscale, BlackRock and Constancy.