Users Are Sending Donations to Bitwise Bitcoin ETF Wallet as Inscriptions
The Bitwise Bitcoin ETF (BITB), which is intended for storing coins purchased, has received donations primarily in the form of “inscriptions.”
The issuer of the product, Bitwise Asset Management, had previously disclosed the product’s wallet details.
As of now, the address has received 16,773 “inscriptions” with a value of over $6,000. These include RSIC airdrops, Bitcoin Punk, Bitcoin Burials, and Quadkey.
Furthermore, the address has also received thousands of BRC20 tokens with an invalid balance. The community has positively received Bitwise’s move to reveal the Bitcoin address, but some were surprised by the lack of test transactions before transferring 12,000 BTC to the wallet.
Others have questioned the use of multisig by the asset manager, arguing that it indicates a low level of wallet security.
