Grayscale revealed as second-largest Bitcoin holder despite confidentiality efforts: Arkham Intelligence

Blockchain analytical steadfast Arkham Intelligence identified Grayscale’s Bitcoin Trust arsenic the second-largest Bitcoin (BTC) holder successful a Sept. 6 post connected X, formerly Twitter.

The institution said that the spot is the “second largest BTC entity globally” and that the money contains implicit $16 cardinal of the flagship integer asset. This is successful tandem with Grayscale’s website, which shows that the full assets nether its BTC spot are $16.009 billion.

Arkham revealed that the funds are distributed among much than 1,750 addresses, each holding 1,000 BTC oregon less. The wallets were identified contempt Grayscale’s determination to support the trust’s on-chain addresses confidential.

Last year, Grayscale faced dense speculations astir its Bitcoin equilibrium aft the illness of FTX. At the time, the crypto concern funds cited “security concerns” arsenic wherefore it decided not to people on-chain addresses associated with it. Nonetheless, its custodial partner, Coinbase, aboriginal released a report detailing the assets it held connected behalf of the concern firm.

Arkham’s disclosure positions it arsenic the pioneering steadfast successful identifying the circumstantial addresses associated with the GBTC fund.

Arkham antecedently identified Grayscale’s  Ethereum Trust arsenic the second-largest Ethereum (ETH) holder, with addresses associated with the money holding astir $5 cardinal worthy of ETH. The steadfast had besides identified Robinhood arsenic the holder of the third-largest Bitcoin wallet and the fifth-largest Ethereum wallet.

GBTC discount nether 20%

GBTC’s discount has remained nether 20% contempt the bearish sentiments that person kept BTC nether $26,000 for astir of the existent month, according to Ycharts data.

The discount had rapidly dropped to its lowest level wrong the past 2 years aft Grayscale secured a triumph implicit the U.S. Securities and Exchange Commission (SEC) successful August. The tribunal had ruled that the fiscal regulator acted “arbitrarily and capriciously” successful rejecting its effort to person its spot into an exchange-traded fund.

The station Grayscale revealed arsenic second-largest Bitcoin holder contempt confidentiality efforts: Arkham Intelligence appeared archetypal connected CryptoSlate.