On January 23, Arkham, a company specializing in onchain intelligence, made an announcement regarding the identification of connected addresses linked to four new spot bitcoin exchange-traded funds (ETFs). These addresses are reportedly associated with fund managers including Blackrock, Fidelity, Bitwise, and Franklin Templeton.
4 ETFs Identified Onchain
In a recent post by Arkham Intelligence on Tuesday, the company revealed that it has identified four out of ten spot bitcoin ETFs. Previously, the company had uncovered the holdings of GBTC, and with this latest development, Arkham has now identified half of the ETFs in the U.S. market. "Arkham has identified the onchain location of four of the bitcoin ETFs," the company stated. "We are the first to publicly identify these addresses."
Arkham has unveiled the initial list of addresses belonging to Blackrock and linked to the IBIT ETF. However, the identified addresses contain 39,925 BTC, which is less than the 44,004 BTC reported by IBIT. Analysis shows that IBIT's funds are distributed over multiple addresses, with each address holding a maximum of 1,200 BTC. Additionally, Franklin Templeton's EZBC ETF has also been pinpointed, with its onchain holdings aligning with the asset manager's reported figures.
Arkham's investigation also revealed the holdings of Fidelity's Wise Origin spot bitcoin ETF, FBTC, which possesses 34,127 BTC. This finding is consistent with Fidelity's latest update as of January 23, 2024. The wallets for Bitwise's BITB fund have also been identified, holding 11,188 BTC. Furthermore, Bitwise manages additional crypto assets for the Bitwise 10 Crypto Index Fund, known as BITW.
Coinbase Custody oversees the assets of all the aforementioned exchange-traded funds (ETFs), except for Fidelity's. Fidelity, on the other hand, utilizes its own custody services to manage its bitcoin (BTC) reserves. Coinbase frequently emerges as the primary counterparty in the transactions of the other three ETFs. The availability of onchain data regarding these new funds significantly enhances market transparency.
Transparency fosters trust among investors and improves decision-making. By providing clear insights into fund operations and holdings, it strengthens the overall integrity and stability of the cryptocurrency market. This transparency is crucial in attracting more informed participation and investment in the growing crypto economy. Following the collapse of FTX, crypto exchanges holding significant balances have started disclosing proof-of-reserve data, aiming to enhance transparency in the sector.
What are your thoughts on Arkham identifying four of the new spot bitcoin ETF bitcoin holdings? Let us know your opinion on this matter in the comments section below.
Frequently Asked Questions
Is gold a good investment IRA option?
For anyone who wants to save some money, gold can be a good investment. You can diversify your portfolio with gold. But there is more to gold than meets the eye.
It has been used throughout the history of currency and remains a popular payment method. It is sometimes called the “oldest currency in the world”.
Gold is not created by governments, but it is extracted from the earth. It's hard to find and very rare, making it extremely valuable.
The supply and demand factors determine how much gold is worth. When the economy is strong, people tend to spend more money, which means fewer people mine gold. The value of gold rises as a consequence.
On the flipside, people may save cash rather than spend it when the economy slows. This means that more gold is produced, which reduces its value.
This is why both individuals as well as businesses can benefit from investing in gold. If you have gold to invest, you will reap the rewards when the economy expands.
Your investments will also generate interest, which can help you increase your wealth. Plus, you won't lose money if the value of gold drops.
What precious metals do you have that you can invest in for your retirement?
These precious metals are among the most attractive investments. Both can be easily bought and sold, and have been around since forever. You should add them to your portfolio if you are looking to diversify.
Gold: This is the oldest form of currency that man has ever known. It is stable and very secure. Because of this, it is considered a great way of preserving wealth during times when there are uncertainties.
Silver: The popularity of silver has always been a concern for investors. It's an ideal choice for those who prefer to avoid volatility. Silver tends to move up, not down, unlike gold.
Platinum: This precious metal is also becoming more popular. It's like silver or gold in that it is durable and resistant to corrosion. It is however more expensive than its counterparts.
Rhodium: Rhodium can be used in catalytic convertors. It's also used in jewelry making. It is also very affordable in comparison to other types.
Palladium – Palladium is an alternative to platinum that's more common but less scarce. It's also much more affordable. For these reasons, it's become a favorite among investors looking to add precious metals to their portfolios.
Should You Open a Precious Metal IRA?
It is essential to be aware of the fact that precious metals do not have insurance coverage before opening an IRA. You cannot recover any money you have invested. All your investments can be lost due to theft, fire or flood.
It is best to invest in physical gold coins and silver coins to avoid this type loss. These coins have been around for thousands and represent a real asset that can never be lost. You would probably get more if you sold them today than you paid when they were first created.
When opening an IRA account, make sure you choose a reputable company offering competitive rates and high-quality products. It is also a smart idea to use a third-party trustee who will help you have access to your assets at all times.
If you decide to open an account, remember that you won't see any returns until after you retire. Don't forget the future!
What precious metal should I invest in?
The answer to this question depends on how much risk you are willing to take and what type of return you want. Gold is a traditional haven investment. However, it is not always the most profitable. Gold may not be right for you if you want quick profits. You should invest in silver if you have the patience and time.
If you don’t want to be rich fast, gold might be the right choice. Silver might be a better investment option if steady returns are desired over a long period of time.
How much is gold taxed under a Roth IRA
A tax assessment for an investment account will be based on the current market value, and not what you paid initially. All gains, even if you have invested $1,000 in a mutual funds stock, are subject to tax.
But if you put the money into a traditional IRA or 401(k), there's no tax when you withdraw the money. You pay taxes only on earnings from dividends and capital gains — which apply only to investments held longer than one year.
These rules vary from one state to another. For example, in Maryland, you must take withdrawals within 60 days after reaching age 59 1/2 . Massachusetts allows you up to April 1st. New York has a maximum age limit of 70 1/2. To avoid any penalties, plan your retirement savings and take your distributions as early as possible.
Statistics
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
External Links
cftc.gov
law.cornell.edu
- 7 U.S. Code SS7 – Designation board of trade as contract marketplaces
- 26 U.S. Code SS 408 – Individual retirement plans
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
finance.yahoo.com
How To
How to Buy Physical Gold in An IRA
The easiest way to invest is to buy shares in companies that make gold. However, this method comes with many risks because there's no guarantee that these companies will continue to survive. If they survive, there's still the risk of losing money due to fluctuations in the price of gold.
You can also buy gold directly. You will need to either open an online or bank account or simply buy gold from a reliable seller. This option offers the advantages of being able to purchase gold at low prices and easy access (you don’t need to deal directly with stock exchanges). It is easier to view how much gold has been stored. You will receive a receipt detailing exactly what you paid. You also have a lower chance of theft than stocks.
There are however some disadvantages. You won't get the bank's interest rates or investment money. You won't have the ability to diversify your holdings; you will be stuck with what you purchased. Finally, the taxman might want to know where your gold has been placed!
Visit BullionVault.com to find out more about gold buying in an IRA.
—————————————————————————————————————————————————————————————–
By: Jamie Redman
Title: Arkham Reveals Onchain Addresses Linked to 4 Major Bitcoin ETFs, Boosting Market Transparency
Sourced From: news.bitcoin.com/arkham-reveals-onchain-addresses-linked-to-4-major-bitcoin-etfs-boosting-market-transparency/
Published Date: Wed, 24 Jan 2024 15:30:25 +0000
Leave a Reply