Asset managers Ark Invest and 21Shares made the announcement on Wednesday that they have included Chainlink’s Proof of Reserve platform to verify ownership information for their ARK 21Shares Bitcoin ETF (ARKB), a step that will increase fund transparency.
The step comes after Bitwise, a fellow spot bitcoin ETF producer, disclosed its digital wallet address in January, revealing the assets for its Bitwise Bitcoin ETF (BITB). Industry insiders applauded the transparency offering initiative enthusiastically. Ark/21Shares is currently the second issuer to disclose holdings data onchain.
According to Ophelia Snyder, co-founder and president of 21Shares, “This collaboration allows us to offer an unmatched level of insight and safety for our investors’ holdings in ARKB.”
ARKB is one of the best-performing bitcoin exchange-traded funds (ETFs), having started on January 11th. As of the end of the business day on Monday, the fund had the third-highest amount of assets under management among issuers, totaling 33,274 bitcoin.
The only two that have raised greater funds are BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC).
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