According to blockchain data tracking company Arkham Intel, 134 wallets associated with WisdomTree’s physical Bitcoin ETP (WBIT) collectively hold 8,900 BTC, worth approximately $579 million. The WBIT website states that the WisdomTree Physical Bitcoin is a physically-backed exchange-traded product (ETP) designed to provide shareholders with a simple, secure, and cost-effective way to gain exposure to the price of Bitcoin. The physically-backed Bitcoin ETP, similar to a spot Bitcoin ETF, uses Bitcoin as the underlying asset. However, a spot Bitcoin ETF can track the price of Bitcoin using derivatives without requiring investors to hold Bitcoin. The physically-backed Bitcoin ETP, such as WBIT, grants investors the right to the portion of Bitcoin held in cold storage by the fund.
Source link: https://www.theblock.co/post/291251/arkham-intel-finds-wallets-associated-with…
Note: All articles on Bitpush represent the views of the author and do not constitute investment advice.
Original article link: https://www.bitpush.news/articles/6647190
Related news:
【Bitpush Daily Market Dynamics】Testing $64,000 again, BTC’s boring trend may continue for 3 to 6 months
Bankless: Runes are not the solution to the miner income problem
Early wallets keep waking up, how many of the “lost” 1.8 million Bitcoins have actually disappeared?
Power struggles turn like flipping through a book
How to speculate on “Rune coins”? An article listing six popular tokens in the Rune protocol.