The asset managers Ark Invest and 21Shares announced on Wednesday that they have integrated Chainlink’s Proof of Reserve platform to validate holdings data for their ARK 21Shares Bitcoin ETF (ARKB), marking a step towards more transparency for the fund.
Ophelia Snyder, co-founder and president of 21Shares, stated, “This collaboration allows us to offer an unmatched level of insight and safety for our investors’ holdings for ARKB.”
The action follows the January disclosure by Bitwise, a fellow spot bitcoin ETF maker, of its digital wallet address, which displayed the assets for its Bitwise Bitcoin ETF (BITB). Industry insiders praised the transparency offering endeavor enthusiastically. As of now, Ark/21Shares is the second issuer to put holdings data on the chain.
ARKB is one of the top-performing bitcoin exchange-traded funds (ETFs) that debuted on January 11th. The fund has the third-highest amount of assets under management among issuers as of the conclusion of the business day on Monday, with 33,274 Bitcoins.
The only two that have drawn in more money are BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC).
Also Read: Ether Surpasses $2.4K as Ark Invest and 21Shares Revise Spot ETH ETF Filing
