Grayscale Bitcoin Trust (GBTC) Reveals Significant Crypto Holdings
You can clearly see the transaction history for each wallet associated with Grayscale Bitcoin Trust (GBTC). Each Grayscale address is marked as part of this history.
Aside from Bitcoin, the Grayscale Bitcoin Trust also holds a substantial amount of Ethereum (ETH). Currently, it has 3.03 million ETH valued at $4.9 billion.
Grayscale’s crypto holdings go beyond Bitcoin and Ethereum. It also has $1.86 million in Chainlink (LINK), 1.74 million in Polygon (MATIC), and various other altcoin assets.
Based on the current exchange rates, Grayscale’s total assets amount to over $20.9 billion. Bitcoin and Ethereum make up the majority of these holdings.
Grayscale is currently involved in a legal battle with the U.S. Securities and Exchange Commission (SEC) in an effort to convert their trust into an exchange-traded fund (ETF).
In a letter addressed to the SEC, Grayscale’s lawyers argued that a court of appeals ruling supports their position, countering the Commission’s previous stance on bitcoin futures ETPs versus spot bitcoin ETPs.
Meanwhile, the SEC has delayed its decision on six other spot Bitcoin ETF applications until October, including those from BlackRock, Fidelity WisdomTree, Bitwise, VanEck, Invesco Galaxy, and Valkyrie.
New York-based Blockchain Analytics Firm Introduces Intel Exchange
New York-based blockchain analytics firm Arkham Intelligence has recently launched the Intel Exchange platform.
This platform aims to empower Web3 investigators and researchers by allowing them to monetize their expertise.
Arkham Intelligence has faced criticism for sharing private information about blockchain users, with some referring to it as a “snitch-to-earn” platform.
However, the CEO of Arkham argues that their intention is to level the playing field in terms of data accessibility between larger institutions and smaller players who would otherwise lack access to such information.
In late August, Arkham Intelligence disclosed that Robinhood’s wallet contained over $2.5 billion worth of Ethereum (ETH).
The platform identified Robinhood as the owner of the fifth-largest ETH wallet, holding 1.5 million ETH valued at $2.54 billion.
Prior to this, Arkham had already identified Robinhood as the owner of the third-largest Bitcoin (BTC) address, which holds 118,300 BTC worth $3 billion.
Hot Take: Grayscale’s Crypto Holdings and Arkham Intelligence’s Data Disclosure
Grayscale’s extensive crypto holdings highlight the company’s strong presence in the market. With assets exceeding $20.9 billion, they continue to be a major player in cryptocurrencies, particularly Bitcoin and Ethereum.
On the other hand, Arkham Intelligence’s Intel Exchange platform sparks controversy as it raises concerns about privacy and data disclosure. While the firm aims to level the playing field, the disclosure of private information about blockchain users remains a contentious issue.
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