In a strategic move to bolster transparency within the cryptocurrency space, ARK Invest and 21Shares have joined forces with Chainlink to enhance the transparency of their Bitcoin ETF.
The collaboration, unveiled through an official announcement, underscores a commitment to providing unparalleled insight and security for investors in the ARK 21Shares Bitcoin ETF (ARKB). Leveraging Chainlink’s Proof of Reserve platform for holdings verification, the initiative aims to instill confidence and trust among ARKB investors, according to Ophelia Snyder, Co-Founder and President of 21Shares.
This landmark integration positions ARK and 21Shares as trailblazers in the cryptocurrency industry, as they become the second spot Bitcoin ETF issuer to leverage blockchain technology for making their holdings data accessible on-chain.
This move follows in the footsteps of Bitwise, which in January disclosed its digital wallet address for its Bitcoin ETF (BITB), earning praise from industry experts for its commitment to transparency.
Since its launch on January 11th alongside nine other spot Bitcoin ETFs, ARKB has enjoyed significant success. As of the latest data, the fund boasts a holding of 33,274 Bitcoins, with assets under management exceeding $1.8 billion. This impressive performance ranks ARKB third in terms of capital attraction, trailing behind only Fidelity’s Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT).
The collaboration between ARK Invest, 21Shares, and Chainlink heralds a new era of transparency and accountability within the cryptocurrency investment landscape, setting a precedent for other market participants to follow suit in prioritizing investor trust and security.
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