Hoseki, a leader in Bitcoin and blockchain verification technology, is excited to announce the launch of Hoseki Verified, a first of its kind Spot Bitcoin ETF verification product designed to ensure transparency and integrity in the cryptocurrency investment space. Bitwise (BITB), a premier asset management firm, has joined as the first participant in this innovative initiative to demonstrate their commitment to transparency and investor protection.
Hoseki Verified aims to set new standards in the verification processes for Spot Bitcoin ETFs, providing a robust framework that enhances trust and transparency for institutional and retail investors. By leveraging advanced blockchain technology, Hoseki Verified offers an unparalleled level of transparency and verification that is critical in today’s evolving financial landscape. Additionally, Hoseki has released a publicly accessible dashboard that provides real-time representation of the spot Bitcoin held in custody, with custodians such as Coinbase, BitGo, and Gemini, for all participating Bitcoin ETF issuers. Until now, there has been no publicly accessible third-party resource to affirm and reflect the Bitcoin that the Issuers hold in custody as required for the Spot ETF instrument.
Bitwise recognizes the importance of transparency with their Bitcoin ETF (BITB). In January, Bitwise published the bitcoin addresses of its Bitcoin ETF holdings, becoming the first Bitcoin ETF Issuer to do so. By partnering with Hoseki Verified, Bitwise continues its commitment to providing investors with confidence and assurance regarding the ownership of their Bitcoin holdings.
Hong Kim, CTO of Bitwise, elaborated on the evolution of their work with Hoseki stating, “we deeply care about Bitcoin and its core value propositions, chief amongst them being auditability and public transparency which is why we’ve taken the initiative in being public about our on-chain assets and why we are thrilled to be working with Hoseki to make the public transparency work we’ve already done even more robust.”
Leveraging this innovative verification solution, Bitwise aims to set a new standard in attestation for Spot Bitcoin ETFs, ensuring that investors can trust in the integrity and transparency of their investment vehicles. This collaboration not only enhances Bitwise’s reputation as a leader in the industry but also showcases its dedication to fostering trust and compliance among retail and institutional investors alike.
Sam Abbassi, CEO of Hoseki, emphasized the importance of this launch, stating, “In the world of institutional investing, transparency isn’t just a value-add; it’s a fundamental necessity. As the crypto market matures, investors demand higher standards of clarity and accountability. Hoseki Verified meets this need by providing an unwavering level of digital asset verification, ensuring that every Spot Bitcoin ETF adheres to the highest standards of transparency and integrity.”
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