7 months ago
37 ARTICLE AD
Investors can now monitor ARKB's Bitcoin reserves in near real-time.
21Shares, a crypto investment product provider, announced today its integration with Chainlink’s Proof of Reserve on the Ethereum mainnet, elevating the transparency of the Bitcoin reserves backing the ARK 21Shares Bitcoin ETF, ARKB.
ARKB investors can now verify that the ETF is fully backed by Bitcoin holdings, thanks to the public availability of the underlying Bitcoin reserve and reserves history through Chainlink Proof of Reserve (PoR). This off-chain reserves feed, sourced directly from Coinbase, allows for the on-chain reporting of reserve data via Chainlink oracles.
“By integrating Chainlink, the industry leader in Proof of Reserves for tokenized assets, we’re setting a new standard for combining transparency and security in digital asset management,” explained Ophelia Snyder, 21Shares US co-founder and President.
The benefits of PoR include automated on-chain verification of ARKB’s Bitcoin collateralization, decentralized delivery of external data to blockchains, and transparent monitoring of Chainlink PoR feeds by anyone in near real-time.
“By providing real-time, tamper-proof data on Bitcoin reserves, Chainlink Proof of Reserve is not just enhancing the security and transparency of the ARK 21Shares Bitcoin ETF, but also empowering institutions and market participants with the confidence to actively engage with on-chain finance,” noted Johann Eid, Chief Business Officer at Chainlink Labs.
The collaboration between 21Shares and ARK Invest has resulted in a leading spot Bitcoin ETF with nearly $1.6 billion in net assets since its launch in January 2024.
The adoption of Chainlink’s PoR is not limited to ARKB. Other web3 projects such as Aave, Gemini, and TrustToken had previously integrated the solution prior to ARKB.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by HAL, our proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
