Ark Invest and 21Shares have integrated Chainlink Proof of Reserve on the Ethereum mainnet to bolster transparency of the ARK 21Shares Bitcoin ETF (ARKB), according to a Feb. 28 statement.
With this move, investors in ARKB can verify that the ETF’s Bitcoin holdings completely support its value. This transparency is facilitated by the public accessibility of the underlying Bitcoin reserve and its historical data through Chainlink Proof of Reserve (PoR).
The mechanism is powered by off-chain reserves data sourced directly from Coinbase and enables on-chain reporting of reserve information via Chainlink oracles.
Ophelia Snyder, the Co-founder and President at 21 Shares US, said:
“This collaboration allows us to offer an unmatched level of insight and safety for our investors’ holdings for ARKB, reinforcing 21Shares’ commitment to leading the way in secure, transparent asset management.”
Transparency efforts
ARKB’s transparency efforts followed that of Bitwise, a Bitcoin ETF is
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