21Shares’ CETH integrates Chainlink Proof of Reserve to increase transparency.
21Shares US LLC, an affiliate of 21Shares AG, has incorporated industry standards. Chainlink Proof of Holdings to Ethereum 
Ethereum
+1.86%
A mainnet to enhance the transparency of the Ethereum reserves that support the 21Shares Core Ethereum ETF (ticker CETH).
CETH is physically backed by Ether and tracks the performance of ETH.
21Shares selected Chainlink as its preferred decentralized computing platform due to its proven track record of creating over $12 trillion in total value in on-chain markets, according to a press release.
“By integrating Chainlink’s Proof of Reserve solution, 21Shares will provide clear visibility into the underlying ETH holdings of CETH, giving investors greater confidence and assurance that CETH is backed by the underlying ETH holdings,” the press release said. “Chainlink Proof of Reserve will publicly expose real-time holdings data and holdings history via: Off-chain reserve Feeds that pull in reserve data directly from Coinbase – ensuring transparency and security of holdings, maintaining asset integrity, and building investor trust.”
February, 21 stocks announce Integrating Chainlink Proof of Reserve to enhance transparency of Bitcoin holdings. ARK 21Shares Bitcoin ETFARKB launched in January and currently has $3.2 billion in assets under management.
“We are excited to further expand our collaboration with 21Shares and support this important milestone in industry history by bringing enhanced transparency to the 21Shares Core Ethereum ETF via Chainlink Proof of Reserve,” said Yohan Eid, Chief Business Officer at Chainlink Labs. “21Shares is playing a critical role in supporting digital asset adoption, and the Chainlink platform is helping financial institutions realize their vision of seamless tokenization on a global scale.”
CETH was one of nine spot Ethereum ETFs that debuted last week. The new fund saw net inflows of over $1 billion with eight funds, but was overwhelmed by net outflows of $1.5 billion from Grayscale’s ETHE.
“The approval of the Spot Ethereum ETF in the U.S. is further evidence of the global momentum and adoption of cryptocurrency, and is another step closer to our mission to bridge the gap between traditional and decentralized finance,” said Ophelia Snyder, Co-Founder and President of 21Shares. “Chainlink Proof of Reserve has helped drive increased transparency for the Spot Bitcoin ETP since its initial launch, and it was a natural decision to utilize Chainlink’s industry-standard reserve verification service for our Spot Ethereum ETP, CETH.”
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