Ethereum
21Shares Integrates Chainlink Proof-of-Reserve System for Ethereum Spot ETFs
Leading crypto company uses leading Oracle Blockchain service to increase transparency.
According to a news announcement of 21Shares, the company’s Ethereum (ETH) The exchange-traded fund (ETF) uses Chainlink (LINK) Proof of Reserve (POR).
“Exciting news! 21Shares has integrated Chainlink Proof of Reserve (PoR) on Ethereum to increase transparency of the 21Shares Core Ethereum ETF (CETH) reserves.
This integration of Chainlink’s Proof of Reserve ensures investors have real-time visibility into the Ethereum reserves backing CETH and aims to set new standards for digital asset transparency and security.
Chainlink’s POR allows everyone to check ETF reserve data and reserve history.
Chainlink’s POR integration comes just a week after the launch of the first Ethereum Spot ETF in the United States.
Last Tuesday morningETFs from BlackRock, Fidelity, 21Shares, Invesco, Franklin Templeton, VanEck, Grayscale and BItwise are coming to market.
Chainlink creator Sergey Nazarov recently said that TradFi is now preparing to take the next big step in the adoption of digital assets and smart contracts.
“Accelerating the adoption of digital assets/smart contracts in TradFi is just the beginning. Once the world’s largest asset managers and banks are on-chain, the next step will be to connect them to the DeFi protocols already powered by Chainlink.”
Once there is a single standard for how transactions work properly across multiple chains and across both the worlds of DeFi and TradFi, we will then enter a global Internet of Contracts, the true promise of what our industry has been working towards.”
Don’t miss a thing – Subscribe to receive email alerts directly to your inbox
Check Price action
follow us on X, Facebook And Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/GrandeDuc