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Bitwise indicates that the Bitcoin and other assets received by the ETF wallet will benefit the shareholders of the fund

Bitwise indicates that the Bitcoin and other assets received by the ETF wallet will benefit the shareholders of the fund

2024/01/26 14:18

According to The Block, Bitwise recently became the first exchange-traded fund (ETF) issuer to release its fund wallet on a spot Bitcoin exchange. However, this was followed by a series of unexpected gifts. Users sent small amounts of Bitcoin and other assets to the wallet, totaling over $5000 in value.

Matt Hougan, Chief Investment Officer at Bitwise, stated that all these assets will belong to BITB shareholders. According to the S-1 filing of the fund, if Bitwise receives assets involuntarily, they may sell them and distribute cash proportionally to shareholders.

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