Ethereum

Enhance

Chainlink

<ul> 
 <li>21Shares integrates Chainlink’s Proof of Reserve on Ethereum for real-time ETH ETF transparency.”</li> 
 <li>Chainlink’s Proof of Reserve powers 21Shares’ Ether ETF, following its successful implementation in a $3.2B Bitcoin ETF</li> 
 <li>BlackRock cautions against social media investment scams, advising public vigilance and secure investing practices</li> 
</ul> 
<p>21Shares has announced its integration of Chainlink’s Proof of Reserve on the Ethereum mainnet to boost transparency on ETH reserves supporting the 21Shares Core Ethereum ETF (CETH), thereby confirming CETH as a true holder of Ether (ETH), the second-largest cryptocurrency by market capitalization. </p> 
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   <p lang="en" dir="ltr">Exciting news! 21Shares has integrated <a href="https://twitter.com/chainlink?ref_src=twsrc%5Etfw">@Chainlink</a> Proof of Reserve (PoR) on Ethereum to increase the transparency of the 21Shares Core Ethereum ETF’s (CETH) reserves.<br><br>This integration of Chainlink's Proof of Reserve ensures investors have real-time visibility into the Ethereum… <a href="https://t.co/OivK5OASPS">pic.twitter.com/OivK5OASPS</a></p>— 21Shares US (@21shares_us) <a href="https://twitter.com/21shares_us/status/1817930522288689579?ref_src=twsrc%5Etfw">July 29, 2024</a>
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<h2 class="wp-block-heading" id="h-integration-of-chainlink-s-decentralized-platform">Integration of Chainlink’s Decentralized Platform</h2> 
<p>The decision to incorporate <a href="https://cryptonewsland.com/?s=Chainlink" target="_blank" rel="noreferrer noopener sponsored nofollow">Chainlink’s</a> Proof of Reserve stems from its wide usage as a reliable decentralized platform for computation; this integration provides investors with real-time visibility into the Ethereum reserves that support CETH</p> 
<p>Therefore, this integration allows investors to access real-time reserve and historical information through an off-chain feed that sources data directly from Coinbase. By leveraging Chainlink’s technology, <a href="https://cryptonewsland.com/21shares-introduces-three-new-crypto-etps/" target="_blank" rel="noreferrer noopener sponsored nofollow">21Shares</a> ensures that the collateralization of CETH remains transparent and secure, underpinned by Chainlink’s platform, which enables over $12 trillion in on-chain markets.</p> 
<p>Johann Eid, CEO at Chainlink Labs, emphasized the importance of this partnership in promoting transparency within the industry and supporting the broader adoption of digital assets. Eid noted that this collaboration will help financial institutions achieve seamless global tokenization.</p> 
<h2 class="wp-block-heading" id="h-advantages-of-chainlink-proof-of-reserve">Advantages of Chainlink Proof of Reserve</h2> 
<p>The implementation of Chainlink’s Proof of Reserve follows the approval of the first spot Ethereum ETFs in the United States, which began trading on July 23. In January 2024, 21Shares incorporated Chainlink Proof of Reserve into its spot Bitcoin ETF (ARKB), managing $3.2 billion in assets. The success of this initiative with BTC reserves has prompted 21Shares to extend similar measures to its <a href="https://cryptonewsland.com/ark-invest-and-21shares-part-way-on-the-ethereum-etf-project/" target="_blank" rel="noreferrer noopener sponsored nofollow">Ether</a> ETF, thereby fostering greater investor confidence and transparency.</p> 
<p>Chainlink Proof of Reserve offers numerous advantages, including automated on-chain verification, decentralization, and transparency. The integration of automated on-chain verification allows for the creation of reference contracts with up-to-date data, enabling automated logic for both investors and protocols based ... </p>
<p>The post <a href="https://cryptonewsland.com/21shares-integrates-chainlink-to-enhance-ethereum-etf-transparency/">21Shares Integrates Chainlink to Enhance Ethereum ETF Transparency</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

21Shares Integrates Chainlink to Enhance Ethereum ETF Transparency

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