Ark Invest and 21Shares Collaborate to Boost Transparency for ARKB Bitcoin ETF with Chainlink Integration
Ark Invest and 21Shares have joined forces to enhance transparency for their ARK 21Shares Bitcoin ETF (ARKB) by integrating Chainlink’s Proof of Reserve platform to verify holdings data. This integration, announced on Wednesday, aims to offer investors real-time and verifiable insights into the ETF’s holdings.
Ophelia Snyder, co-founder and president at 21Shares, emphasized the significance of this collaboration, highlighting that it enables an unprecedented level of insight and safety for investors’ holdings in ARKB.
“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,” Snyder stated.
21Shares ensures a balance of security and transparency in its operations, with enhanced security measures such as segregated wallets, multi-sig protocols, and cold storage. Through Chainlink’s Proof of Reserve solution, 21Shares provides clear visibility into ARKB’s Bitcoin reserves.
Investors in ARKB can now verify that Bitcoin holdings fully back the ETF, as the underlying Bitcoin reserve and reserve history are publicly available through Chainlink Proof of Reserve (PoR).
The integration of Chainlink’s Proof of Reserve platform boosts transparency for ARKB investors, providing automated on-chain verification, decentralized delivery of external data to blockchains, and transparent monitoring by anyone in near real-time. This collaboration sets a new standard for transparency and security in digital asset management, reinforcing 21Shares’ commitment to leading the way in secure, transparent asset management.
The decision to integrate Chainlink’s Proof of Reserve platform follows a similar move by fellow spot Bitcoin ETF issuer Bitwise in January, which disclosed its digital wallet address to show the holdings for its Bitwise Bitcoin ETF (BITB).
With this integration, Ark/21Shares becomes the second issuer to bring holdings data on-chain, further enhancing transparency and accountability in the market. Since its launch on January 11, ARKB has been one of the more successful spot Bitcoin ETFs.
By the end of Monday, the fund had amassed 33,274 bitcoins and boasted assets under management exceeding $1.8 billion, making it the third highest in terms of assets under management among all issuers.
The adoption of Chainlink’s Proof of Reserve extends beyond ARKB, as other web3 projects such as Aave, Gemini, and TrustToken have previously integrated the solution.