On September 1, Arkham Intelligence, a crypto analytics and data tracking agency, reportedly pinpointed the ethereum (ETH) holdings of Grayscale for its Ethereum Trust. Arkham reveals that Grayscale’s ether stash is spread across 500 distinct addresses.
Grayscale’s Ethereum Holdings Mapped by Arkham
According to Arkham, the firm has identified the ethereum owned by Grayscale for the Ethereum Trust fund. The fund’s shares are based on a fraction of ether, and each share represents 0.00963214 ETH on September 1, according to Grayscale’s web portal. Grayscale’s Ethereum Trust was initially introduced in December 2017, and Arkham believes the company is now the second-largest holder of ETH.
“Arkham has identified the Grayscale Ethereum Trust onchain,” the firm posted to the social media platform X. “It is now the second largest ETH entity globally with $5B in ETH. This had not been previously reported or publicly identified.”
The firm added:
The Grayscale funds are split over more than 500 addresses, none of which holds more than $30M. This makes the identification process more difficult. We were able to identify the addresses by analyzing activity and cross-referencing with Grayscale’s publicly reported balances.
The news of Arkham’s assertion that the team has uncovered Grayscale’s funds follows the company’s identification of the fifth-largest ETH holder. “Our identification of Robinhood as the owner of the third-largest bitcoin wallet was widely covered,” Arkham wrote on August 30. “But most coverage missed that we’ve also identified them as the owner of the 5th largest ETH wallet, holding $2.54B of ETH.”
Moreover, after the collapse of FTX, an OXT researcher known as “Ergo” published an X thread featuring onchain forensics that suggests Coinbase Custody holds a balance of 633,000 bitcoins likely belonging to the Grayscale Bitcoin Trust (GBTC). Arkham’s labeling of Grayscale Ethereum Trust onchain comes at a time when the community has shown significant interest in giant bitcoin and ethereum whales and the top wallets.
What do you think about Arkham labeling 500 addresses reportedly associated with the Grayscale Ethereum Trust? Share your thoughts and opinions about this subject in the comments section below.