21Shares US LLC has integrated Chainlink Proof of Reserve on the Ethereum mainnet to enhance transparency for the Ethereum reserves backing its 21Shares Core Ethereum ETF (CETH), which is physically backed by Ether. Chainlink was selected for its proven track record in enabling significant on-chain market value. The integration ensures real-time visibility and data on ETH reserves, sourced from Coinbase, to maintain transparency and security. This follows a similar integration for the ARK 21Shares Bitcoin ETF. Despite CETH's strong launch alongside other spot Ethereum ETFs, net inflows were overshadowed by outflows from Grayscale’s ETHE. The approval of a spot Ethereum ETF in the US underscores the growing global adoption of cryptocurrencies, with Chainlink playing a crucial role in enhancing transparency and supporting digital asset adoption.
Source: The Block