ARK Invest and 21Shares have announced a major update to their Bitcoin Exchange-Traded Fund (ETF) by integrating Chainlink’s Proof of Reserve (PoR) technology. This transformation is set to enhance the transparency and security of the ETF.
The incorporation of Chainlink’s PoR technology will allow investors to verify the reserves backing the Bitcoin ETF in real-time. This will provide greater confidence and trust in the fund, ensuring that it is fully backed by the appropriate amount of Bitcoin.
ARK Invest and 21Shares believe that this integration will bring a new level of transparency and security to the Bitcoin ETF market. By leveraging Chainlink’s PoR technology, investors can have peace of mind knowing that the fund’s reserves are accurately represented.
This major update signals a step forward in the evolution of Bitcoin ETFs, as more emphasis is placed on transparency and security in the industry. The integration of Chainlink’s PoR technology is a significant development that will benefit investors looking to gain exposure to Bitcoin through an ETF.
Overall, this transformation represents a positive advancement for the Bitcoin ETF market, as it brings increased transparency and security to investors.ARK Invest and 21Shares are paving the way for a new standard in the industry by integrating Chainlink’s PoR technology into their Bitcoin ETF.