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21Shares Integrates Chainlink Proof of Reserve to Increase Transparency of the 21Shares Core Ethereum ETF (CETH)

Twitter icon  •  Published 5 महीने पहले on July 30, 2024  •  Hassan Maishera

Chainlink announced via X on Monday that 21Shares has integrated the industry-standard Chainlink Proof of Reserve on the Ethereum mainnet.

21Shares Integrates Chainlink Proof of Reserve to Increase Transparency of the 21Shares Core Ethereum ETF (CETH)

Chainlink announced via X on Monday that 21Shares has integrated the industry-standard Chainlink Proof of Reserve on the Ethereum mainnet. The integration will help to enhance the transparency of the Ethereum reserves backing the 21Shares Core Ethereum ETF (CETH).

CETH is physically backed by Ether (ETH), the second-largest crypto asset by market capitalization, and tracks ETH’s performance. Through the integration of Chainlink's industry-standard Proof of Reserve solution, 21Shares offers clear visibility into the underlying ETH reserves of CETH. This provides investors with increased assurances and confidence that CETH is backed by underlying ETH holdings. 

Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is down by 1% over the past 24 hours and is trading at $13.62 at press time.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.