Bitwise revealed that it has several ENS addresses used to store Ethereum tokens, for its spot ETH EFTA which was launched on Tuesday.
The first U.S. Ethereum spot is Bitwise (ETH) ETF issuer to publish wallets after committing to transparency for its ETHW fund. Wealth manager also made similar moves in January by revealing public Bitcoin (BTC) addresses for assets underpinning the BITB spot BTC ETF.
The tags assigned to five addresses by Ethereum Name Service are: posted ETHW, along with eight other funds, began trading shortly after. ENS names simplify Ethereum addresses which can be long and confusing. Instead of an alpha numeric sequence, ENS designates a label that is shorter, like “abc.eth,” You can find an address by clicking here.
Bitwise promised to add new addresses on the chain as it grows in order for users and investors to track Ether related activity.
“This is the sort of transparency only crypto makes possible. It allows anyone to verify ETHW’s holdings and flows directly on the blockchain, and it lets people easily build public dashboards or write smart contracts that utilize the available ENS records”The announcement began with the following excerpt:
The ENS protocol applauded the update. “ETHW is now the most crypto-native ETF,” Tweets from ENS X said.
Bitwise, competitors hit $361m trading volume in 90 minutes
In the first and a quarter of their launch, nine spot Ethereum ETFs issued by eight different issuers accounted for over $361,000,000 in trading volume. The volume of Ether-based ETFs was over five times that of Bitcoin’s in the opening hour.
Matthew Sigel of VanEck’s digital asset research department noted that Grayscale’s Ethereum Trust (ETHE), which is a Grayscale-backed ETF, accounted for approximately 24 percent of the spot ETH activity on Tuesday. Grayscale was likely the source of most trading. ETF data is typically consolidated the next day so a better picture should be available by Wednesday.
Ethereum’s price was not affected by Wall Street trading or the recent news. Ether was the subject of many speculations. reactPrice increases or decreases are possible.
“Predicting whether ETH will skyrocket is challenging. The reality is no one knows, so we can only look at trends and previous price action,” Rick Bagshaw is the CMO at P2P and he told crypto.news in an email.
“This article is not financial advice.”
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Source: crypto.news
