Ark Invest, 21Shares and Chainlink’s Revolutionary approach to Bitcoin ETF transparency
Chainlink’s Proof of Reserve technology has now been integrated into the ARK 21Shares Bitcoin ETF (ARKB), a move that could potentially revolutionize the cryptocurrency investment industry.
Ophelia Snyder, co-founder and president of 21Shares, highlighted the benefits of this development, stating that investors will now have unparalleled transparency and security for their assets.
In the cryptocurrency industry, ARK and 21Shares have taken a step forward by making their ownership information accessible on the blockchain. They have become the second provider of Bitcoin ETF to do so, following Bitwise’s lead in January.
Cathie Wood and Ark Invest's trade activity from today 2/28 pic.twitter.com/Njd8QzaThK
— Ark Invest Daily (@ArkkDaily) February 29, 2024
Bitwise also received acclaim for its transparency when it publicly shared the address of its digital wallet for its Bitcoin ETF (BITB).
Achievement and progress
ARKB has proven to be a top performer among the 10 Bitcoin ETFs that were launched during the same time frame. Since its establishment on January 11, it has achieved impressive results.
As of Monday, the firm’s assets under management have reached a staggering $1.8 billion, with a substantial holding of 33,274 Bitcoins. This success has positioned ARKB in third place for capital attraction, trailing behind only BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC).
The collaboration between ARK and 21Shares showcases their commitment to transparency and sets a new standard for investor trust and accountability in the cryptocurrency industry.
Such efforts play a crucial role in fostering confidence and expanding the adoption of digital assets as the market continues to evolve.
As more institutional and retail investors enter the market, the demand for transparent investment vehicles is expected to grow, making transparency a critical factor for success in the space.
Angel Marinov is the Managing Editor at Coinlabz. With extensive knowledge of crypto payments and blockchain use cases, Angel is a trusted source of accurate and timely information
