Grayscale’s Ethereum Holdings: Arkham Identifies Second-Largest ETH Entity
Arkham has revealed that it has identified Grayscale’s Ethereum Trust, making it the second-largest holder of ETH globally with $5 billion. The identification process was challenging as Grayscale’s funds are split across over 500 addresses, none of which holds more than $30 million. Arkham was able to identify the addresses by analyzing activity and cross-referencing with publicly reported balances. This news follows Arkham’s previous identification of Robinhood as the owner of the fifth-largest ETH wallet, holding $2.54 billion. Additionally, there are indications that Coinbase Custody holds 633,000 bitcoins likely belonging to the Grayscale Bitcoin Trust. The community has been closely monitoring the activities of large bitcoin and ethereum holders.
Hot Take: Arkham’s identification of Grayscale’s Ethereum Trust highlights the significant holdings of major players in the crypto space. The decentralized nature of cryptocurrencies allows for transparency and onchain forensics, enabling researchers like Arkham to uncover such information. This further emphasizes the importance of tracking and understanding the movements of these influential entities in the market.
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