Hoseki Verified: Trust and transparency in the cryptocurrency industry
Hoseki has launched Hoseki Verified, a new product designed to verify Bitcoin holdings in real-time and increase trust and transparency in the cryptocurrency industry. This service focuses specifically on verifying assets for spot Bitcoin exchange-traded funds (ETFs) and provides a public dashboard where both retail and institutional investors can view the verified Bitcoin holdings of these funds. The dashboard shows holdings managed by custody services such as Coinbase, BitGo, and Gemini.
The importance of transparency in institutional investing
Sam Abbassi, the CEO of Hoseki, emphasized the importance of transparency in institutional investing, explaining that the evolving demands of the crypto market require more clarity and accountability in digital assets. Hoseki Verified aims to meet these needs by ensuring that all Spot Bitcoin ETFs operate with the highest standards of transparency and integrity.
Bitwise as a pioneer for asset transparency
Bitwise, an asset management firm and issuer of a spot Bitcoin ETF, is the first to join the Hoseki Verified initiative. In January, Bitwise made its Bitcoin ETF holdings public by publishing Bitcoin addresses, setting a new standard for asset transparency. By partnering with Hoseki Verified, Bitwise is reinforcing its commitment to investor trust and security. Hong Kim, the CTO of Bitwise, expressed his excitement about strengthening public transparency of their on-chain assets through this partnership.
Promoting transparent practices in the Bitcoin sector
Additionally, Hoseki Verified is open to other participants in the Bitcoin sector and encourages wider adoption of transparent practices. This initiative serves to verify the integrity and transparency of investment vehicles and promotes a healthier and more reliable financial ecosystem.
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