{"id":258986,"date":"2024-09-09T12:17:39","date_gmt":"2024-09-09T12:17:39","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/09\/09\/australian-bitcoin-etf-to-implement-proof-of-reserves-with-hoseki\/"},"modified":"2025-06-25T17:11:27","modified_gmt":"2025-06-25T17:11:27","slug":"australian-bitcoin-etf-to-implement-proof-of-reserves-with-hoseki","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/09\/09\/australian-bitcoin-etf-to-implement-proof-of-reserves-with-hoseki\/","title":{"rendered":"Australian Bitcoin ETF to Implement Proof of Reserves with Hoseki"},"content":{"rendered":"<p> [ad_1]<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/.image\/c_fit%2Ch_800%2Cw_1200\/MjA3NzIzNzgwNjk5NTk2NjEz\/aus.jpg\" \/><\/p>\n<p>Monochrome Asset Management announced its <a href=\"https:\/\/www.monochrome.au\/products\/monochrome-bitcoin-etf\">Monochrome Bitcoin ETF<\/a> (IBTC) will implement proof-of-reserves verification through a new partnership with <a href=\"https:\/\/www.hoseki.app\/\">Hoseki<\/a>. This makes IBTC the first Australian spot Bitcoin ETF to adopt such transparency measures.<\/p>\n<p>Launched earlier this year, the Monochrome <a href=\"https:\/\/bitcoinmagazine.com\/guides\/what-is-a-bitcoin-etf\">Bitcoin ETF<\/a> has seen steady inflows totalling 134 Bitcoin worth over AUD 11 million. The fund is now collaborating with Hoseki to provide daily proof-of-reserves for its Bitcoin holdings.<\/p>\n<p>Hoseki&#8217;s advanced verification process, <a href=\"https:\/\/bitcoinmagazine.com\/tags\/hoseki\">Hoseki<\/a> 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.<\/p>\n<p>&#8220;Proof of reserves is important for establishing full operational transparency of a Bitcoin ETF,&#8221; said Jeff Yew, CEO at Monochrome Asset Management. &#8220;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.&#8221;<\/p>\n<p>According to Monochrome, the Hoseki integration also aligns with its unique capability for direct Bitcoin applications and redemptions, ensuring privacy while maintaining transparency.<\/p>\n<p>As a leading Bitcoin verification provider, Hoseki will conduct real-time validation that IBTC&#8217;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.<\/p>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/bitcoinmagazine.com\/business\/australian-bitcoin-etf-to-implement-proof-of-reserves-with-hoseki\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Monochrome Asset Management announced its Monochrome Bitcoin ETF (IBTC) will implement proof-of-reserves verification through a new partnership with Hoseki. This makes IBTC the first<\/p>\n","protected":false},"author":1,"featured_media":258987,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[172],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/258986"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=258986"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/258986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/258987"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=258986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=258986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=258986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}