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Arkham Intelligence Uncovers Grayscale’s Holdings: Second-Largest Cryptocurrency Entity

The blockchain analysis specialist, Arkham Intelligence, has announced the discovery of addresses belonging to the titan Grayscale. With this latest disclosure, the company uncovers the extent of Grayscale’s grip on the cryptocurrency market, marking it as the second-largest Bitcoin entity globally. According to the data revealed, a staggering sum exceeding $16 billion is housed in Grayscale’s vaults, confirming the figures mentioned on their official website.

Grayscale’s strategic maneuvers dissected

This recent disclosure not only echoes the substantial financial figures but also highlights the extensive distribution of assets across over 1,750 addresses. Each of these addresses holds up to 1,000 BTC, a strategic move likely aimed at safeguarding assets by avoiding putting all their eggs in one basket.

Arkham had previously identified Grayscale’s Ethereum Trust as the second-largest holder of Ethereum (ETH), with addresses associated with the fund holding around $5 billion worth of ETH. The firm had also identified Robinhood as the holder of the third-largest Bitcoin wallet and the fifth-largest Ethereum wallet.

Last year, Grayscale found itself caught in a whirlwind of speculation regarding its Bitcoin balance, especially after the collapse of FTX. Despite a previous decision to maintain the confidentiality of on-chain addresses, citing security concerns, pressure mounted, leading to the publication of an asset report by its custodian partner, Coinbase. This episode marked a significant turning point, dispelling the shadows of secrecy that once enveloped the distribution of the investment giant’s assets.

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