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Finance

Ark and 21Shares to Disclose Spot Bitcoin ETF Reserves Via Chainlink Integration

The move comes after fellow spot bitcoin ETF issuer Bitwise drew applause from industry experts for making its wallet address public in January.

By Helene Braun
AccessTimeIconFeb 28, 2024 at 2:00 p.m. UTC
Updated Mar 8, 2024 at 10:18 p.m. UTC
Asset managers Ark Invest and 21Shares have integrated Chainlink’s proof of reserves for reserve data of its ARK 21Shares Bitcoin ETF. (Marco Bello/Getty Images, modified by CoinDesk)
Asset managers Ark Invest and 21Shares have integrated Chainlink’s proof of reserves for reserve data of its ARK 21Shares Bitcoin ETF. (Marco Bello/Getty Images, modified by CoinDesk)
  • Ark Invest and 21Shares will be making the bitcoin reserves of their ARK 21Shares Bitcoin ETF (ARKB) public in a move towards greater transparency.
  • The asset managers are the second of the spot bitcoin ETF issuers to do so, following Bitwise.
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    • Asset managers Ark Invest and 21Shares have taken a step towards more 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 collaboration allows us to offer an unmatched level of insight and safety for our investors' holdings for ARKB,“ Ophelia Snyder, co-founder and president at 21Shares said.

    The move comes after fellow spot bitcoin ETF issuer Bitwise in January disclosed its digital wallet address showing the holdings for its Bitwise Bitcoin ETF (BITB). The transparency providing effort was widely applauded by industry experts. Ark/21Shares will now be the second issuer to bring holdings data onchain.

    ARKB has been among the more successful of the 10 spot bitcoin ETFs launched on Jan. 11. As of the end of the day Monday, the fund had accumulated 33,274 bitcoin and assets under management above $1.8 billion, which is the third highest among the issuers. Only Fidelity’s Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT) have attracted more capital.

    Edited by Stephen Alpher.

    Disclosure

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Helene Braun
    Helene Braun

    Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

    Follow @HeleneBraunn on Twitter