Top Crypto ETF Issuer Boosts Ethereum ETF Transparency with Chainlink

A top cryptocurrency ETF issuer has integrated Chainlink's Proof of Reserves to enhance transparrency.

21Shares U.S. LLC has announced the integration of Chainlink’s Proof of Reserve technology on the Ethereum blockchain to enhance transparency for its 21Shares Core Ethereum ETF (CETH). This move is designed to confirm that CETH genuinely holds the Ethereum it claims.

21Shares chose Chainlink for its reliable decentralized verification system. Chainlink’s technology will now provide real-time data on CETH’s Ethereum reserves via an off-chain feed connected to Coinbase.

This ensures the ETF’s collateral is both transparent and secure, leveraging Chainlink’s extensive on-chain market value.

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The update follows the introduction of the first spot Ethereum ETFs in the U.S. on July 23. Earlier this year, 21Shares also incorporated Chainlink Proof of Reserve in their Bitcoin ETF, managing $3.2 billion. With this latest integration, investors can expect improved confidence and transparency.

Chainlink’s Proof of Reserve offers benefits like real-time automated verification and decentralized data updates, which help maintain accurate and independent verification of the ETF’s reserves.

Alexander Stefanov