CoinShares Utilizes LedgerLens to Provide Real-Time Asset Proof Services for ETPs

According to reports, CoinShares will use the solution provided by the independent accounting firm The Network Firm, LedgerLens, to provide real-time asset proof services for its exchange traded products (ETPs), allowing investors to access the digital asset situation behind ETPs in real time.

CoinShares uses LedgerLens to provide real-time proof of ETP assets

As more investors enter the digital asset market, there is a growing need for greater transparency and accountability within the industry. In response, CoinShares, a leading provider of Exchange Traded Products (ETPs) for digital assets, has partnered with The Network Firm’s LedgerLens to offer real-time asset proof services for its ETPs.

What is CoinShares?

CoinShares, established in 2017, describes itself as Europe’s largest digital asset investment firm. The company provides its customers with access to a wide range of investment products, including index-tracking ETPs and actively managed strategies.

The Need for Real-Time Asset Proof Services

Digital assets, unlike traditional assets, are highly volatile, and their prices can fluctuate substantially within hours, sometimes even minutes. Digital asset investors need to be aware that the ETPs they are investing in contain the right assets at the right price. Previous reports indicate that some digital asset funds have been holding significant portions of their assets in cash, which has resulted in lower returns for investors.
Real-time asset proof services like those offered by LedgerLens provide investors with the necessary tools to stay up to date with the investment company’s digital asset holdings, significantly reducing the risks of investing in digital assets.

New Partnership between CoinShares and LedgerLens

CoinShares has announced that it will be utilizing LedgerLens’ services to provide real-time asset proof for its ETPs. By using LedgerLens, CoinShares will give real-time portfolio transparency, ensuring that customers have confidence in the products they invest in.
Jason Guthrie, CoinShares’ Head of Capital Markets, said “Our partnership with LedgerLens will give our clients unparalleled transparency into the underlying digital assets of CoinShares ETPs.” This partnership means that investors can access the digital asset situation behind ETPs in real-time, which is a significant step forward in offering greater transparency in the digital asset market.

Conclusion

As digital asset investments continue to surge in popularity, the need for real-time asset proof services will keep growing. CoinShares’ partnership with LedgerLens is an important step that addresses this growing need, providing investors with transparency and accountability when it comes to their digital asset investments.

FAQs

1. What is an ETP?
An ETP or Exchange Traded Product is a type of investment instrument that tracks underlying assets like stocks, bonds, or digital assets. ETPs are traded on exchanges like stocks and have the potential to provide better returns for investors.

2. Why is it necessary to have real-time asset proof services?
Digital assets’ values can fluctuate rapidly. Real-time asset proof services offer customers transparency by providing them with timely information about the assets held in ETPs.
3. How does LedgerLens offer real-time asset proof services?
LedgerLens provides a range of services that enable investors to track digital asset holdings, including monitoring digital asset transactions, verifying holdings and reconciling data between different systems.