Earlier this week, Bitwise, the first to launch a bitcoin exchange-traded fund, shared its fund wallet publicly. Soon after, the wallet began receiving surprising gifts.
BRC-20 tokens, Bitcoin domain names, and Bitcoin NFTs, and the total value of these gifts exceeded $5,000, shortly after, people started sending various gifts to the wallet, including small amounts of Bitcoin,
When asked about this, Bitwise Chief Investment Officer Matt Hougan commented, “All assets accrue to the benefits of shareholders of BITB.”
As per the fund’s S-1 filing, if Bitwise unintentionally receives assets, it has the option to sell them for cash and distribute the cash proportionally among shareholders.
It’s worth noting that an earlier version of the S-1 mentioned the possibility of distributing received assets directly, but this language was removed before approval.