Key takeaways:
- Arkham Intelligence found 500 wallet addresses linked to Grayscale Ethereum Trust, the second-largest ETH entity.
- The trust holds $5 billion in assets, as per Arkham’s report.
Arkham Intelligence’s latest report reveals that Grayscale has amassed approximately $5 billion worth of Ethereum.
Grayscale appears to be in tune with the crypto market’s rhythm as it approaches the launch of its spot Bitcoin ETF following a successful lawsuit against the Securities and Exchange Commission (SEC).
The report states that the trust is the “second largest ETH entity globally,” with assets totaling around $5 billion in Ethereum, a slight rounding up from $4.9 billion.
Arkham indicates that these funds are distributed among over 500 addresses, each holding $30 million or less. These addresses were pinpointed through an analysis of activity and cross-referencing with Grayscale’s publicly disclosed balances.
While Arkham asserts that these holdings have not been previously identified, Grayscale’s own website discloses that its Ethereum Trust manages nearly $5.0 billion in assets. It appears that Arkham is the first to uncover the specific addresses associated with the fund, rather than being the first to ascertain the fund’s overall balance.
According to Arkham, the Grayscale Ethereum Trust has not been publicly reported or identified on the blockchain before. This complexity arises from the trust’s funds being distributed across more than 500 addresses, none of which holds more than $30 million.
Grayscale holds approximately $1.7 million in Link tokens within the Grayscale Chainlink Trust and $1.1 million in UNI tokens.
Arkham’s report states that Grayscale’s Bitcoin holdings are relatively modest, at around $92.1 million. However, Grayscale’s official website reports that the Grayscale Bitcoin Trust (GBTC) manages a portfolio exceeding $16 billion in Bitcoin.
Consequently, this made the identification process considerably challenging for Arkham analysts, necessitating an intricate analysis and cross-referencing with Grayscale’s publicly reported balances.
In another In a surprising revelation, Arkham Intelligence disclosed that Robinhood, the popular retail trading app, holds the world’s fifth-largest Ethereum wallet, housing more than $2.5 billion worth of Ethereum, the second-largest cryptocurrency in the world.
