HosekiA leader in Bitcoin and blockchain verification solutions has unveiled Hoseki Verified, a new verification product aimed at enhancing transparency and trust in the cryptocurrency industry, with a focus on verifying the assets of Bitcoin exchange-traded funds (ETFs), according to the press. The release was submitted to Bitcoin Magazine.
This public dashboard aims to establish a new industry standard for verification, providing individual and institutional investors with complete visibility into the BTC holdings of these funds.
Husky verified It intends to provide real-time verification of bitcoins held by spot Bitcoin ETF issuers and other financial institutions. The public dashboard, accessible to everyone, displays verified Bitcoin holdings with custodians such as Coinbase, BitGo and Gemini, according to the statement, providing a level of transparency not previously available in the industry.
“In the world of institutional investing, transparency is not just an added value; “It's a basic necessity,” said Sam Abbasi, Hosicki's CEO. “As the cryptocurrency market matures, investors are demanding higher standards of clarity and accountability. Hoseki Verified meets this need by providing a consistent level of verification for digital assets, ensuring every Spot Bitcoin ETF adheres to the highest standards of transparency and integrity.
Asset management company and instant Bitcoin ETF issuer Bitwise (BITB)It adopted this initiative as the first participant. In January, Bitwise first provided transparency regarding its Bitcoin ETF when it published the Bitcoin addresses of its ETF holdings, taking the lead in setting a new precedent for asset transparency among ETF issuers. By partnering with Hoseki Verified, Bitwise is strengthening its commitment to investor trust and security.
“We care deeply about Bitcoin and its core value propositions, including reputation and public transparency, which is why we've taken the lead in announcing our on-chain assets and why we're excited to work with Hoseki to make the public transparency work we've done easier,” explained Hung Kim, CTO at Bitwise. It has actually become more powerful.
Hoseki Verified isn't just limited to Bitwise; It welcomes and invites other Bitcoin entities to join this initiative to create a more transparent Bitcoin investment landscape. Through the Hoseki Verified programme, investors can verify the integrity and transparency of these investment instruments, ultimately contributing to a healthier and more trustworthy financial ecosystem.