Arkham Intel finds wallets associated with Wisdomtree's Physical Bitcoin ETP WBIT
WBIT holds 8,900 BTC, worth around $579 million, across 134 wallets, Arkham Intel finds.
WBIT holds 8,900 BTC , worth around $579 million, across 134 wallets, Arkham noted on the social media platform X Friday.
"WisdomTree Physical Bitcoin is a physically backed exchange-traded product (ETP) designed to offer shareholders a simple, secure and cost-efficient way to gain exposure to the price of Bitcoin,” according to WBIT’s website . “The ETP provides for easy investor access, tradability, transparency and institutional custody solutions with a robust physically backed structure."
A physically-backed bitcoin ETP is comparable to a spot bitcoin exchange-traded fund (ETF) in that both products hold Bitcoin as their underlying asset. While both closely follow the price of bitcoin, a spot bitcoin ETF may use derivatives to track the price of bitcoin without needing the investor to hold the coin. A physically-backed bitcoin ETP, such as WBIT, entitles investors to a portion of bitcoin owned by the fund in cold storage.
WisdomTree also issues the spot bitcoin ETF (WBTC) was approved on Jan. 10, 2024. BTCW saw $31.6 million in U.S. dollar volume on Apr. 24 and $10.6 million on Apr. 25, according to The Block's Data Dashboard.
Disclaimer: everything in the article represents the author's point of view and has nothing to do with this platform. This article is not intended to be used as a reference for making investment decisions.
You may also like
Bitcoin volatility plunges below Tesla, Nvidia stocks amid $100K price prediction
Lower Bitcoin market volatility often precedes significant bull runs, suggesting that the current trend could propel prices toward the $100,000 to $150,000 range.
Victim of $71 million 'address poisoning' attack recovers funds following negotiations
Blockchain data shows that the victim of a $71 million address poisoning attack last week has recovered nearly all available funds when accounting for the changes in crypto prices. Blockchain cybersecurity firm Match Systems and the Cryptex exchange participated in the recovery negotiations, according to a press release.
