{"id":37372,"date":"2025-07-17T03:46:42","date_gmt":"2025-07-17T03:46:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=37372"},"modified":"2025-07-17T03:46:42","modified_gmt":"2025-07-17T03:46:42","slug":"crypto-etfs-get-a-confidence-boost-as-bitwise-adds-proof-of-reserves","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=37372","title":{"rendered":"Crypto ETFs Get A Confidence Boost As Bitwise Adds Proof Of Reserves"},"content":{"rendered":"
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US firms are moving to shore up trust after past reserve mishaps. According to recent reports, Bitwise Asset Management has rolled out a daily proof\u2011of\u2011reserves<\/a> check for its spot Bitcoin and Ethereum ETFs.<\/p>\n

This change swaps public wallet listings for a professional audit done every trading day. Investors will now see a clear match between on\u2011chain balances and ETF <\/a>shares before the market opens.<\/p>\n

Daily Checks To Boost Confidence<\/h2>\n

Based on reports, the new process taps The Network Firm, a US accounting company, to run on\u2011chain balance comparisons each day. The checks cover the Bitwise Bitcoin ETF (BITB) and the Bitwise Ethereum ETF<\/a> (ETHW).<\/p>\n

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Today, we\u2019re introducing third-party Proof of Reserves transparency for the Bitwise Bitcoin ETF $BITB<\/a> and the Bitwise Ethereum ETF $ETHW<\/a>, provided by @The_NetworkFirm<\/a>, a U.S.-based certified public accounting firm.<\/p>\n

Live now, you can check daily balance updates on each fund\u2019s\u2026<\/p>\n

\u2014 Bitwise (@BitwiseInvest) July 15, 2025<\/a><\/p>\n<\/blockquote>\n

Bitwise<\/a> holds $5 \u202fbillion in its Bitcoin fund and nearly $360 million in its Ethereum fund. The audit matches these amounts against the number of ETF shares out there. It\u2019s a simple idea, but it puts an expert eye on the numbers rather than leaving investors to track addresses on their own.<\/p>\n

The move comes after the collapse of FTX in 2022 showed how blind spots in reserve reporting can leave investors stranded. Back then, missing assets only came to light when it was too late. By running daily checks, Bitwise is making sure it won\u2019t face a surprise shortfall.<\/p>\n

<\/p>\n

Adding CPA Attestations Soon<\/h2>\n

According to the firm, investors will also get CPA\u2011attested reports within weeks. Those reports will cover not only assets but also liabilities. That means you\u2019ll see both sides of the balance sheet. With that extra layer, shareholders can see what the fund owes as well as what it owns.<\/p>\n

\"\"<\/p>\n

This step isn\u2019t just for show. It helps with regulatory reviews as US authorities tighten their grip on crypto<\/a> products. Having a certified accountant sign off on the numbers gives regulators a clear path for verification. It also means more peace of mind for anyone wary of hidden risks.<\/p>\n

Industry Reaction And Comparison<\/p>\n

Based on expert commentary, other ETF issuers will likely take note. BlackRock\u2019s iShares Bitcoin Trust (IBIT) currently manages $86 billion\u2014by far the largest fund in this space. But size alone won\u2019t cut it if investors demand proof of reserves. Smaller players like Bitwise could outshine bigger rivals by being more open about their holdings.<\/p>\n

Fund issuers in the US have watched closely since the FTX fallout. Many have toyed with monthly or quarterly attestations<\/a>, but daily checks raise the bar. Investors who want real\u2011time peace of mind might soon expect proof of reserves on a daily basis.<\/p>\n

Featured image from Coinmama, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

US firms are moving to shore up trust after past reserve mishaps. According to recent reports, Bitwise Asset Management has rolled out a daily proof\u2011of\u2011reserves check for its spot Bitcoin and Ethereum ETFs. This change swaps public wallet listings for a professional audit done every trading day. Investors will now see a clear match between […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-37372","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/37372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37372"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/37372\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}