"Proof of reserves is important for establishing full operational transparency of a Bitcoin ETF," said Jeff Yew, CEO at Monochrome Asset Management. "Our partnership with Hoseki highlights our commitment to setting the highest standards for integrity and reliability in Bitcoin ETFs, setting a precedent for the industry."
Hoseki's advanced verification process, Hoseki Verified, will enable Monochrome to deliver independently verified evidence that investor assets are fully accounted for. This ongoing auditing sets a higher standard for transparency in Australian Bitcoin ETFs.
As a leading Bitcoin verification provider, Hoseki will conduct real-time validation that IBTC's Bitcoin reserves match its stated holdings. This provides clear proof of assets to investors.
The initiative may prompt broader adoption of rigorous verification measures across the Bitcoin ETF landscape, ensuring privacy while maintaining transparency for investors.
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