Chainlink Integration Boosts Transparency in 21Shares Ether ETF

Last updated:07/30/2024

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By leveraging Chainlink’s innovative PoR system, 21Shares’ Ether ETF now offers real-time, publicly verifiable reserve data directly sourced from Coinbase, the premier cryptocurrency exchange. This transparent approach to asset management not only showcases 21Shares’ commitment to integrity but also paves the way for greater adoption of digital assets by financial institutions and investors alike.

Johann Eid, Chief Business Officer at Chainlink Labs, acknowledges the significance of this integration, stating, “21Shares is instrumental in fostering the adoption of digital assets, and the Chainlink platform is enabling seamless tokenization on a global scale.” This collaboration underscores the importance of trust and transparency in the crypto market and underscores 21Shares’ position as a trusted leader in the space.

The timing of this integration couldn’t be more strategic, following the successful launch of the first spot Ether ETFs in the United States on July 23. As the crypto landscape continues to evolve and mature, 21Shares’ commitment to transparency and investor confidence will be vital in driving further adoption and growth.

Ether ETF Approval Boosts DeFi Adoption Prospects
Ether ETFs Paving Way for Crypto ETF Expansion

Ether ETF Approval Boosts DeFi Adoption Prospects

The historic approval of the first batch of US spot Ether ETFs marks a pivotal moment in the cryptocurrency realm, propelling the industry towards the widespread adoption of decentralized finance in payments.

This landmark decision, as highlighted by Ophelia Snyder, Co-Founder and President of 21Shares, underscores the growing momentum and global acceptance of crypto, bringing us closer to bridging the gap between traditional and decentralized finance. Leveraging Chainlink’s PoR solution for its spot Bitcoin ETF since inception, 21Shares’ seamless integration into the Ether ETF was a strategic move, underscoring the company’s commitment to staying at the forefront of the crypto evolution. Amid record-breaking Bitcoin open interest exceeding $39.4B, indicating a potential price breakout, the approval of US Ether ETFs serves as a testament to the sector’s relentless progression and the imminent widespread adoption of DeFi.

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Ether ETFs Paving Way for Crypto ETF Expansion

In a parallel development, Franklin Templeton and SBI Holdings have collaborated to establish a groundbreaking crypto ETF management company, signaling their commitment to the future of digital finance. The joint venture, which aims to capitalize on the burgeoning interest in crypto investments, could potentially introduce a crypto ETF in Japan once the regulatory landscape becomes conducive. A spokesperson from Franklin Templeton emphasized the company’s intention to offer a diverse array of investment solutions, including their existing ETF offerings, while also exploring the launch of a Solana spot ETF due to the cryptocurrency’s impressive adoption rates.

As Japan’s regulatory framework for digital assets and cryptocurrencies continues to mature, the new joint venture stands poised to introduce innovative products that meet the evolving needs of investors. This strategic partnership underscores the growing acceptance of cryptocurrency investments among traditional financial institutions and underscores the potential for widespread adoption of crypto ETFs.

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Chainlink Integration Boosts Transparency in 21Shares Ether ETF

Ether ETF Approval Boosts DeFi Adoption Prospects

Ether ETFs Paving Way for Crypto ETF Expansion

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