Bitwise Asset Management announced on July 16 the implementation of third-party proof of reserves for its Bitcoin and Ethereum ETFs. This move aims to boost investor confidence in the wake of the FTX collapse, enhancing the transparency of these investments.
The Network Firm will perform daily CPA-based audits to verify asset balances and fund liabilities, replacing prior wallet address verifications. Market reactions have been neutral, with no significant comments from industry leaders or regulators.
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