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21Shares Integrates Chainlink’s Proof of Reserve to Enhance Transparency
One of the world’s largest issuers of crypto exchange traded funds (ETPs), 21Shares, has integrated Chainlink’s Proof of Reserve (PoR) on Ethereum to make their Core Ethereum ETF (CETH) transparent. This step will enhance investors’ trust in the firm. In a press release, 21Shares US LLC, shared the information about this integration.
By integrating Chainlink’s PoR, 21Shares is taking a significant step towards increasing transparency in the crypto market. Investors can now verify the reserves backing the CETH ETF on the Ethereum blockchain, ensuring that the fund is fully collateralized and secure. This move is expected to boost investor confidence in 21Shares and attract more interest in their products.
Chainlink’s PoR technology provides a decentralized and tamper-proof solution for verifying asset reserves. By leveraging this technology, 21Shares is setting a new standard for transparency in the crypto industry. This integration highlights the firm’s commitment to upholding the highest standards of security and accountability for their investors.
How Will This Impact Me?
As an investor, the integration of Chainlink’s Proof of Reserve by 21Shares will provide you with greater transparency and assurance regarding the reserves backing the CETH ETF. This increased transparency can help you make more informed investment decisions and mitigate risks associated with the fund. Overall, this move is likely to have a positive impact on your investment experience with 21Shares.
How Will This Impact the World?
The integration of Chainlink’s Proof of Reserve by 21Shares sets a new standard for transparency and accountability in the crypto industry. By making their asset reserves verifiable on the blockchain, 21Shares is paving the way for increased trust and confidence in crypto investment products. This move is expected to have a ripple effect across the industry, encouraging other firms to adopt similar practices and enhance transparency for investors worldwide.
Conclusion
21Shares’ integration of Chainlink’s Proof of Reserve on Ethereum is a significant step towards enhancing transparency and trust in the crypto market. This move not only benefits individual investors by providing them with greater confidence in the CETH ETF, but also sets a new standard for accountability in the industry. As more firms follow suit, we can expect to see increased transparency and trust in crypto investment products, ultimately driving growth and innovation in the market.
