21shares Partners with Chainlink to Enhance Real-Time Ethereum Reserve Monitoring
21shares has integrated Chainlink’s Proof of Reserve on Ethereum mainnet to enhance transparency for its Core Ethereum exchange-traded fund (ETF), CETH.
This integration uses Chainlink’s decentralized data verification system to provide real-time visibility into the Ethereum reserves backing the ETF, allowing investors to independently verify asset collateralization. Chainlink’s Johann Eid highlighted the significance of this move in advancing digital asset adoption.
Following the successful use of Chainlink’s Proof of Reserve for its Bitcoin ETF earlier this year, 21shares aims to bolster transparency and investor confidence, with CETH currently holding about 2,800 ETH valued at approximately $9.29 million.
Clever Robot News Desk 30th July 2024
