Ark and 21Shares Partner to Enhance Transparency of Bitcoin ETF Holdings

Crypto News- In a move toward greater transparency, asset managers Ark Invest and 21Shares announced on Wednesday their integration of Chainlink’s Proof of Reserve platform to verify holdings data for the ARK 21Shares Bitcoin ETF (ARKB). Ophelia Snyder, co-founder and president at 21Shares, expressed the significance of this collaboration, emphasizing, ‘This partnership allows us to provide unparalleled insight and security for our investors’ ARKB holdings.’

This initiative follows the lead of Bitwise, a fellow spot bitcoin ETF issuer, which disclosed its digital wallet address in January, showcasing the holdings for its Bitwise Bitcoin ETF (BITB). The industry widely lauded Bitwise’s transparency efforts. Ark and 21Shares now stand as the second issuer to bring holdings data onchain, marking a pivotal step in fostering transparency within the ETF landscape.

Ark and 21Shares Partner to Enhance Transparency of Bitcoin ETF Holdings

Since its launch on January 11th, ARKB has emerged as one of the most successful among the 10 spot bitcoin ETFs. Recent data indicates that the fund has amassed 33,274 bitcoin with assets under management exceeding $1.8 billion, positioning it as the third highest among issuers. Notably, only Fidelity’s Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT) have garnered more capital.

The integration of Chainlink’s technology not only underscores Ark and 21Shares’ commitment to transparency but also reinforces investor confidence in the burgeoning Bitcoin ETF market.