Grayscale is known to be one of the largest holders of the flagship cryptocurrency, Bitcoin. However, a recent report by crypto analytics platform Arkham Intelligence suggests that the asset manager could also be the entity with the second-largest Ethereum holdings.
Grayscale Holds Close To $5 Billion In ETH
Arkham tweeted that it “identified” the Grayscale Ethereum Trust on-chain. According to the platform, this discovery places Grayscale as the “second largest ETH entity,” with the asset manager holding close to $5 billion (around $4.88 billion at the time of writing) in Ether.
Breaking: Arkham has identified the Grayscale Ethereum Trust on chain.
It is now the second largest ETH entity globally with $5B in ETH.
This had not been previously reported or publicly identified. pic.twitter.com/MQqKT6E9v6
— Arkham (@ArkhamIntel) September 1, 2023
The crypto analytics firm noted that Grayscale’s ETH holdings were split across over 500 addresses, with none holding over $30 million. This apparently made it more difficult for Arkham to identify Grayscale’s ETH holding.
Arkham stated that part of the identification process involved cross-referencing its information with Grayscale’s publicly reported balances. According to Grayscale’s website, the total assets under management (AUM) for its Grayscale Ethereum Trust is nearly $5 billion. As such, it seems plausible that the wallets identified by Arkham may indeed belong to Grayscale.
However, it is worth mentioning that there seem
Go to Source to See Full Article
Author: Scott Matherson
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
