Crypto firm 21Shares is boosting transparency for its Ethereum ETFs by using Chainlink’s Proof-of-Reserve (POR) system.
This means anyone can now easily check the real-time holdings of the 21Shares Core Ethereum ETF (CETH) and see its history.
Chainlink’s POR is a big deal for the crypto world. It’s like a public ledger that proves the ETF actually has the Ethereum it claims to have. This is especially important after the first Spot Ethereum ETFs launched in the US last week.
Chainlink’s creator, Sergey Nazarov, believes this is just the beginning. He sees a future where traditional finance (TradFi) and decentralized finance (DeFi) work together seamlessly, creating a “global Internet of Contracts.”
This is exciting news for the crypto industry. It shows how blockchain technology can be used to make traditional financial products more transparent and secure.
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