NAIROBI (CoinChapter.com) — ARK 21Shares Bitcoin ETF (ARKB) has integrated Chainlink’s Proof of Reserve (PoR) into its ARK 21Shares Bitcoin ETF (ARKB), offering investors near-real-time monitoring of ARKB’s Bitcoin reserves. In the hours following the partnership announcement, 21Shares US revealed that ARKB has surpassed the $2 billion mark in Bitcoin holdings.
Chainlink’s Proof of Reserve (PoR) offers automated on-chain verification of the Bitcoin reserves supporting the ARK 21Shares Bitcoin ETF. This enables investors to monitor the reserves of ARKB autonomously in near real-time.
Through the integration of PoR, Chainlink oracles securely relay reserve data from Coinbase to the Ethereum blockchain. This mechanism assures investors that the ETF’s collateral is fully backed by Bitcoin, providing an independent confirmation of the asset’s integrity.
Transparent Holdings Tracking
The seamless integration of Chainlink’s PoR enables investors to monitor ARKB’s Bitcoin reserves in near real-time. This integration enables ARKB investors to verify the ETF’s full collateralization by Bitcoin holdings. The underlying reserve and reserve history are readily accessible through Chainlink’s PR.
ARKB investors can now monitor holdings via publicly verifiable, tamper-proof feeds updated in near real-time. This aims to provide institutions and other major investors with the confidence in transparency and security needed to increase engagement
“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,”
said Ophelia Snyder, 21Shares US co-founder and President
Chainlink PoR’s Rising Adoption
21Shares, a leading crypto asset manager, recently made headlines by integrating Chainlink PoR for its Bitcoin ETF (ARKB). This move provides investors with real-time verification of ARKB’s Bitcoin reserves, solidifying trust in the fund. Moreover, ARKB joins a growing roster of reputable Web3 projects, including Aave, Gemini, and TrustToken, that leverage PoR to showcase transparency.
Integrating PoR by a major ETF player like 21Shares could mark a turning point in crypto asset management. Furthermore, the focus on verifiable on-chain data may set a precedent for the industry, encouraging greater accountability and investor trust in the rapidly evolving digital asset space.