Bitwise says bitcoin received to ETF wallet will benefit the fund’s shareholders | Headlines | News | CoinMarketCap
01/26/2024 20:50
Earlier this week, Bitwise became the first spot bitcoin exchange-traded fund issuer to publish the wallet for its fund — and it didn’t take …
Earlier this week, Bitwise became the first spot bitcoin exchange-traded fund issuer to publish the wallet for its fund — and it didn’t take long before the wallet started receiving unexpected gifts.
Some users sent the wallet small amounts of bitcoin, such as 0.00042069 BTC. Others sent BRC-20 tokens, Bitcoin domain names and a variety of Bitcoin NFTs to the wallet. In total, the wallet has received more than $5,000.
When reached for comment about all of this, Bitwise CIO Matt Hougan said, "All assets accrue to the benefits of shareholders of BITB."
According to the fund’s S-1 filing, if Bitwise involuntarily receives assets, it may sell them for cash and proportionally distribute the cash to shareholders. Earlier versions of its S-1 said such assets could be distributed in-kind, …