Ark 21Shares’ ARKB has integrated Chainlink’s proof of reserves for its Bitcoin ETF products. Bitcoin ETFs have seen a significant increase in demand. This has led to more financial asset providers making customer security a priority. Cryptocurrency advocates and ETF experts agree that BTC ETFs are outperforming underlying trading benchmarks.
ARKB integrates Chainlink’s proof of reserve
Ark 21Shares’ ARKB has integrated Chainlink’s proof of reserve for its spot Bitcoin ETF product. This move comes as the firm combines transparency and better functionality for investors. The integration also encourages investors to jump on the crypto bandwagon at a time when demand for Bitcoin ETFs is increasing. Chainlink also announced the development from its official X account as follows:
Crypto ETF issuer 21shares has integrated ARKInvest with Chainlink Proof of Reserve on Ethereum to increase the transparency of reserves of the ARK 21Shares Bitcoin ETF (ARKB).
Chainlink continues to come to the fore with its partnerships
According to the statement, 21Shares has integrated the industry standard Chainlink Proof of Reserve into the Ethereum main-net to increase the transparency of Bitcoin reserves supporting the ARK 21Shares Bitcoin ETF. This move validates Chainlink’s track record of securely delivering 11.8 billion data points on-chain. Chainlink has also delivered over $9 trillion in total value for decentralized markets.
The integration will provide full visibility into ARKB’s Bitcoin reserves. Enhanced security features such as cold storage, multi-sig protocols and segregated wallets ensure that these assets are transparent yet secure. Thus, it preserves asset integrity and increases investor confidence.
Investor safety is a priority as demand for Bitcoin ETF products increases
cryptokoin.comAs you follow from, Bitcoin ETFs are seeing an increase in demand. That’s why more financial asset providers are making customer security their priority. This move is often aimed at attracting more customers to purchase a desired list of products. It also makes the system more secure.
Ark 21Share’s current move is also in line with the idea of providing additional benefits to its customers. In today’s announcement, he also emphasized that ARKB’s reserve history and underlying Bitcoin reserve are now publicly available. This move also focuses on making investors more confident that ARKB is fully backed by Bitcoin assets. This PoR feed is a special type of off-chain reserve feed that pulls data about reserves directly from Coinbase. Coinbase has direct access to accounts or vaults containing reserve assets. Therefore, it can identify entire reserves and report the information on-chain via Chainlink oracles.
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