Arkham Intelligence Identifies 500 Wallet Addresses Tied to Grayscale Ethereum Trust
Crypto data platform Arkham Intelligence has revealed that it has identified over 500 wallet addresses connected to the Grayscale Ethereum Trust. Despite the challenge of the identified wallets not holding more than $30 million in assets, Arkham was able to track them by analyzing activity and cross-referencing with publicly reported balances from Grayscale. According to Arkham, Grayscale currently holds almost 3 billion ETH, making it the second largest Ethereum entity globally. Additionally, Arkham disclosed that the Grayscale Ethereum Trust also holds 3,590 BTC, valued at $92.7 million.
The Grayscale Ethereum Trust and its Performance
The Grayscale Ethereum Trust provides investors with passive exposure to the price of ether and was established in December 2017. The Trust initially faced a -60% discount at the start of 2023, but this has recently decreased to -30% according to The Block’s Data Dashboard.
Conclusion
Arkham Intelligence’s identification of 500 wallet addresses tied to the Grayscale Ethereum Trust sheds light on the significant holdings of this entity. With nearly 3 billion ETH and 3,590 BTC, Grayscale’s influence and impact on the crypto market cannot be ignored. As the second largest Ethereum entity globally, it will be interesting to see how Grayscale’s performance and market position continue to evolve.
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