NEW YORK, Feb. 28, 2024 /PRNewswire/ — We’re excited to announce that 21Shares has integrated the industry-standard Chainlink Proof of Reserve on Ethereum mainnet to enhance the transparency of the Bitcoin reserves backing the ARK 21Shares Bitcoin ETF.
We chose Chainlink as our preferred decentralized computing platform due to its proven history of enabling $9T+ in total value for decentralized markets and securely delivering 11.8B+ data points onchain. Additionally, Chainlink Proof of Reserve is our recommended service for tokenized asset issuers looking to bring reserve data onchain because of its ease of integration and ubiquitous adoption across the blockchain ecosystem.
21Shares US LLC (“21Shares”) and ARK Investment Management LLC (“ARK”), launched the ARK 21Shares Bitcoin ETF, ARKB—a leading spot Bitcoin exchange-traded fund (ETF) with over 1.58B in net assets since launch in January 2024. As the first decentralized currency, Bitcoin is the largest digital asset by market cap today and is well-established as a digital store of value with broad user adoption and liquidity. ARKB offers a regulated vehicle for this strategic asset, providing investors with regulated access to this leading digital asset without the complexities of trading or storing it themselves.
21Shares seamlessly balances security and transparency in its operations. Through the integration of Chainlink’s market leading Proof of Reserve solution, 21Shares offers clear visibility into ARKB’s Bitcoin reserves. Enhanced security measures, including segregated wallets, multi-sig protocols, and cold storage, ensure these holdings are transparent yet secure, maintaining asset integrity and building investor trust.
With ARKB’s underlying Bitcoin reserve and reserve history publicly available through Chainlink Proof of Reserve, ARKB investors now have increased assurances and confidence that ARKB is fully backed by Bitcoin holdings. This PoR feed is a type of offchain reserves feed that pulls reserves data directly from Coinbase. As Coinbase has direct access to the accounts …
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