Ark Invest and 21Shares will make public the bitcoin reserves of their ARK 21Shares Bitcoin ETF (ARKB) in a move towards greater transparency.
The asset managers are the second of the spot Bitcoin ETF issuers after Bitwise to do so.
Asset managers Ark Invest and 21Shares have taken a step toward greater transparency for their ARK 21Shares Bitcoin ETF (ARKB) by integrating Chainlink’s Proof of Reserve platform to verify holdings data, the companies announced Wednesday.
“This partnership allows us to provide an unparalleled level of insight and security for our investors’ interests for ARKB,” said Ophelia Snyder, co-founder and president of 21Shares.
The move comes after fellow spot bitcoin ETF issuer Bitwise made public its digital wallet address in January with the holdings for its Bitwise Bitcoin ETF (BITB). The efforts to achieve transparency were widely welcomed by industry experts. Ark/21Shares will now be the second issuer to bring holding data onchain.
ARKB is one of the most successful of the 10 spot bitcoin ETFs that launched on January 11. As of the end of the day on Monday, the fund had amassed 33,274 bitcoin and assets under management above $1.8 billion, which is the third highest among issuers. . Only Fidelity’s Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT) have attracted more capital.