21Shares Integrates Chainlink to Verify Ethereum ETF Reserves
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21Shares integrates Chainlink's Proof of Reserve to boost Ethereum ETF transparency, ensuring real-time, secure verification of ETH reserves.
HIGHLIGHTS
21Shares uses Chainlink Proof of Reserve to ensure transparency in Ethereum ETF reserves.
Chainlink's decentralized system secures $3.2B in assets for 21Shares' Ethereum and Bitcoin ETFs.
BlackRock warns against investment scams on platforms like Telegram.
21Shares U.S. LLC, an affiliate with 21Shares AG, has integrated Chainlink’s Proof of Reserve on the Ethereum mainnet to increase transparency about Ethereum reserves supporting the 21Shares Core Ethereum ETF (CETH), to affirm CETH as a true holder of Ether (ETH), the second-largest crypto by market cap.
21Shares to Verify Ethereum ETF Reserves
Chainlink got chosen by 21Shares because of its widely accepted decentralized platform for computation. The integration of Chainlink’s Proof of Reserve gives complete visibility to ETH reserves underlying CETH.
Thus, investors have real-time reserve data and history through an off-chain feed that pulls data directly from Coinbase. Consequently, it ensures that CETH’s collateralization is transparent and secure, owing to the total value of more than $12 trillion, which is enabled in on-chain markets by the Chainlink platform.
