Bitwise’s ETHW is launching as one of several spot Ethereum ETFs in the U.S. on Tuesday. The fund has published its ether wallet addresses, becoming the first U.S. spot Ethereum ETF to do so, and has assigned Ethereum Name Service (ENS) sub names for easy identification.
This move enhances transparency, allowing verification of ETHW’s holdings and flows directly on the blockchain.
The U.S. Securities and Exchange Commission (SEC) has approved registration statements for various firms, including Bitwise, enabling their spot Ethereum ETFs to start trading.
Bitwise’s ETHW will trade on the NYSE, with Coinbase as the custodian, and will have a management fee of 0.2%, reduced to 0% for six months on the first $500 million in assets. Additionally, Bitwise will donate 10% of the ETF’s profits to open-source Ethereum developers.
Most U.S. BTC ETFs do not disclose their reserve wallet addresses, unlike Bitwise, but they update their daily BTC reserve statistics on their websites.
For example, Grayscale’s Ethereum Trust (ETHE) reports holding 2,629,468.67 ETH as of July 23, 2024. Arkham Intelligence has pinpointed several funds with identifiable wallets.
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