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ARK Invest, 21Shares partner with Chainlink on Bitcoin ETF transparency

source-logo  crypto.news 28 February 2024 16:14, UTC

ARK Invest and 21Shares have partnered with Chainlink to enhance the transparency of its Bitcoin ETF.

The announcement of this integration aims to provide unparalleled insight and security for ARK 21Shares Bitcoin ETF (ARKB) investors’ assets, utilizing Chainlink’s Proof of Reserve platform for holdings verification, according to 21Shares Co-Founder and President Ophelia Snyder.

The initiative marks a notable step in the cryptocurrency industry, positioning ARK and 21Shares as the second spot Bitcoin ETF issuer to make their holdings data accessible onchain.

ARK Invest, 21Shares partner with Chainlink on Bitcoin ETF transparency - 1
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"Asset managers Ark Invest and 21Shares have taken a step towards more transparency for their ARK 21Shares Bitcoin ETF (ARKB) by integrating #Chainlink’s Proof of Reserve platform to verify holdings data."

Check out the onchain PoR feed👇https://t.co/MK5wQrWBp3

— Chainlink (@chainlink) February 28, 2024

This follows Bitwise’s January announcement, revealing its digital wallet address for its Bitcoin ETF (BITB), in which Bitwise received a commendation from industry specialists for its contribution to transparency.

ARKB, launched on Jan. 11 alongside nine other spot Bitcoin ETFs, has demonstrated considerable success. As of Monday, the fund reported holding 33,274 Bitcoins with assets under management surpassing $1.8 billion, ranking it third in capital attraction behind only Fidelity’s Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT).

Read more: Bitcoin ETF approvals spark mass BTC adoption, experts say