Chainlink Boosts Ark 21Shares Bitcoin ETF (ARKB) With Innovative

Ark 21Shares’ ARKB, in its placement of a Bitcoin ETF, has adopted Chainlink’s proof of reserves. This decision aligns with the company’s commitment to transparency and enhanced functionality for investors. The integration is particularly timely, given the increased demand for Bitcoin ETFs, prompting investors to join the cryptocurrency trend.

A statement claims that 21Shares has implemented the industry-standard Chainlink Proof of Reserve on the Ethereum mainnet in order to increase the transparency of the Bitcoin reserves underpinning the ARK 21Shares Bitcoin ETF. Following Chainlink’s history of safely providing 11.8 billion data points on-chain, the change was made. Additionally, Chainlink has made decentralised marketplaces possible for over $9 trillion in total value.

Furthermore, the updated integration ensures complete transparency into ARKB’s Bitcoin’s reserves. Enhanced security measures, including cold storage, multi-signature protocols, and segregated wallets, ensure that these assets remain both transparent and secure. This safeguards asset integrity and instills confidence in investors.

As the demand for Bitcoin ETFs rises, an increasing number of financial asset providers are prioritizing customer security. This strategic shift is primarily intended to attract a larger customer base for their product offerings while also enhancing overall system security.

ARKB Boosts Investor Trust With Public Bitcoin Reserves

Ark 21Share’s recent action is in line with the objective of offering extra advantages to its customers. The newly issued statement emphasizes that the reserve history and underlying Bitcoin reserve of ARKB are now publicly accessible. This initiative aims to enhance investor confidence in the complete backing of ARKB by Bitcoin’s holdings. The Proof of Reserves (PoR) feed, a specialized off-chain reserves feed, acquires reserve data directly from Coinbase.

With direct access to accounts or vaults holding reserve assets, Coinbase can accurately determine the total reserves and convey this information on-chain through Chainlink oracles. The trading of these Bitcoin ETFs is up, showing investors feel better about them.

Moreover, Supporters of cryptocurrencies and professionals in the ETF industry agree that Bitcoin ETFs are surpassing crucial trading metrics. The anticipated trajectory suggests an increase in market size and assets under management for Bitcoin ETFs in the coming years. The recently launched exchange-traded funds (ETFs) have garnered market approval for providing investors with attractive short-term returns and sustainable long-term performance.

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.