Ethereum

Core

Bitcoin ETF

<ul>
 <li>Full transparency into the Ether reserves supporting CETH is achieved by the integration.</li>
 <li>Transparency, and automatic on-chain verification are just a few of the advantages.</li>
</ul>
To improve transparency regarding <a href="https://thenewscrypto.com/will-ethereum-price-surpass-the-3-5k-level-post-consolidation-phase/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> reserves supporting the 21Shares Core Ethereum ETF (CETH), 21Shares U.S. LLC, an affiliate of 21Shares AG, has integrated <a href="https://thenewscrypto.com/chainlink-unveils-digital-assets-sandbox-empowering-financial-institutions/" target="_blank" rel="noopener noreferrer nofollow">Chainlink’s</a> Proof of Reserve on the Ethereum mainnet. This also affirms CETH as a legitimate holder of Ether.
21Shares selected Chainlink as its decentralized computing platform because of its widespread acceptance. Full transparency into the Ethereum reserves supporting CETH is achieved by the incorporation of Chainlink’s Proof of Reserve.
<h3 class="wp-block-heading" id="h-real-time-statistics-for-investors">Real-time Statistics for Investors</h3>
Moreover, an off-chain feed that retrieves data straight from <a href="http://coinbase.com" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a> provides investors with real-time reserve statistics and history. Thus, the Chainlink platform guarantees the transparency and security of CETH collateralization. Which is enabled in on-chain markets and has a total value of over $12 trillion.
Johann Eid, CEO of Chainlink Labs, has said that this alliance is essential for increasing industry transparency and digital asset adoption. According to Eid, financial institutions would be able to accomplish a seamless tokenization on a global scale with this integration.
The first spot Ethereum ETFs in the US were approved and started trading on July 23, thus this step follows after that. With $3.2 billion in assets under management, 21Shares’ spot Bitcoin ETF (ARKB) also includes Chainlink Proof of Reserve, which was added in January 2024. Following the successful implementation of <a href="http://bitcoin.org" target="_blank" rel="noopener noreferrer nofollow">BTC</a> reserves, they have expanded their procedures to include their Ether ETF. Which further encourages transparency and trust among investors.
Decentralization, transparency, and automatic on-chain verification are just a few of the advantages offered by Chainlink Proof of Reserve. Investors and protocols alike may take use of real-time data provided by reference contracts that use automated on-chain verification to develop logic that adapts to changes in the collateralization status of CETH.
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21Shares Integrates Chainlink’s PoR for Enhanced Transparency of Ether ETF

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TheNewsCrypto

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