Better transparency with proof-of-reserves
To provide real-time transparency to investors, CoinShares has partnered with The Network Firm and its LedgerLens solution.
What is proof of reserves?
Proof of reserves is an attestation service via The Network Firm LedgerLens solution. This blockchain-enabled solution allows investors to independently verify the crypto asset backing through viewable and downloadable attest reports that are generated daily.
How does it work?
This application leverages blockchain technology to independently verify the amount of crypto physically backing the ETP matches the Issuer's liabilities. This unique application adds another layer of operational transparency to the ETP product suite.
For CoinShares ETPs, the procedures detailed herein and the accountant’s findings are intended to demonstrate that, at the time the procedures were performed, the Issuer held in custody and controlled digital assets equal to the Coin Entitlement of outstanding Securities. In short, the procedures are intended to demonstrate that the Securities in issue are adequately backed by the underlying digital assets held by the Issuer.
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- United Kingdom
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- Other
- Individual
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