21Shares Introduces Chainlink Proof of Reserve System to Enhance Transparency of Its Ethereum ETF
Publication Time:2024-07-29 22:11:06
Recently, the renowned cryptocurrency investment company 21Shares announced a partnership with Chainlink to introduce a Proof of Reserve (PoR) system to its core product, the Ethereum ETF 'CETH'. This move aims to significantly enhance transaction transparency by real-time acquisition and verification of reserve data extracted from Coinbase exchange, providing investors with a more reliable investment environment. Johann Eid, Chief Commercial Officer at Chainlink, stated that this integration not only strengthens 21Shares' leadership position in the digital asset sector but also promotes seamless tokenization goals for financial institutions on a global scale. With Chainlink's decentralized network, users can ensure the accuracy and reliability of the data, further enhancing market acceptance and usage of digital assets.
21Shares
Ethereum ETF
CETH
Chainlink
Transparency
Proof of Reserve System