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<ul> 
 <li>21Shares integrates Chainlink’s Proof of Reserve into Core Ethereum ETF to enhance transparency and investor confidence.</li> 
 <li>Chainlink’s Proof of Reserve provides real-time, independent verification of CETH’s collateralization, ensuring data security and reliability.</li> 
 <li>Chainlink Proof of Reserve eliminates central points of failure, with feeds monitored in near real-time, boosting investor trust.</li> 
</ul> 
<p>21Shares, a&nbsp; US LLC subsidiary of <a href="https://www.21shares.com/" target="_blank" rel="noreferrer noopener nofollow">21Shares</a> AG, has integrated Chainlink’s Proof of Reserve technology into Core Ethereum ETF (CETH). This strategic move aims to increase transparency of Ethereum reserves backing ETF and bolster investor confidence.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING: 21Shares Has Integrated Chainlink’s Proof-of-Reserve System, To Create Enhanced Transparency For Its Core Ethereum ETF<a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a></p>— Kyle Chassé (@kyle_chasse) <a href="https://twitter.com/kyle_chasse/status/1817927254779019392?ref_src=twsrc%5Etfw">July 29, 2024</a>
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<p>Chainlink’s Proof of Reserve offers real-time and historical data on reserves. It allows anyone to independently verify collateralization of CETH. This integration ensures that the ETF is transparently backed by Ether (ETH) which is the second-largest cryptocurrency by market capitalization.</p> 
<p>Back in February 2024 21Shares had already integrated Chainlink Proof of Reserve for Bitcoin reserves <a href="https://cryptonewsland.com/21shares-integrates-chainlink-to-enhance-ethereum-etf-transparency/" target="_blank" rel="noreferrer noopener">backing ARK 21Shares</a> Bitcoin ETF. Launched in January 2024, this Bitcoin ETF currently holds $3.2 billion in assets under management. One standout feature of Chainlink Proof of Reserve is its automated on-chain verification.&nbsp;</p> 
<p>This feature keeps on-chain data constantly updated in reference contracts. Consequently investors and protocols can build automated logic based on updates to CETH’s collateralization. This helps maintain integrity of assets and builds trust among investors</p> 
<p><a href="https://chain.link/" target="_blank" rel="noreferrer noopener nofollow">Chainlink</a> Proof of Reserve eliminates central points of failure in delivering external data to blockchains. It ensures reliable on-chain updates at all times regarding CETH’s collateralization. This decentralized approach enhances security and reliability of data.&nbsp;</p> 
<p>The <a href="https://cryptonewsland.com/binance-conducts-11th-proof-of-reserve-amid-regulatory-pressure/" target="_blank" rel="noreferrer noopener">Proof of Reserve</a> feeds can be monitored by anyone in near real-time. This allows investors to independently verify asset collateralizatio... </p>
<p>The post <a href="https://cryptonewsland.com/21shares-partners-with-chainlink-link-to/">21Shares Partners With Chainlink (LINK) to Boost Transparency in Ethereum ETF</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

21Shares Partners With Chainlink (LINK) to Boost Transparency in Ethereum ETF

Crypto News Land

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