In a tweet on September 1, Arkham Intelligence identified Grayscale’s Ethereum Belief as the second-largest Ethereum (ETH) holder. According to the corporation, the belief is the “second largest ETH entity globally” and the fund contains $5 billion in ETH (apparently rounding up from $4.9 billion).
According to Akrham, these monies are dispersed across more than 500 addresses, each of which holds $30 million or less. With the help of workout analysis and cross-referencing with balances that Grayscale made public, Arkham claimed to have identified these addresses.
Despite Arkham’s assertion that these holdings have never been acknowledged, Grayscale’s personal website discloses that the Ethereum Belief is currently managing around $5.0 billion of assets. As a result, it seems that Arkham is obviously the first to determine the actual addresses linked to the fund and never the first to determine the fund’s stability.
Notably, there appears to be a significant disagreement between Grayscale’s personal ratings of its various crypto funds and the data provided by Arkham. While Grayscale claims to possess $16.3 billion in Bitcoin, Arkham analysis shows that Grayscale only has $92.1 million in Bitcoin holdings. On Arkham’s profile for Grayscale, numerous additional cryptocurrency assets are listed.
Robinhood was previously identified by Arkham as the owner of the third-largest Bitcoin wallet ($3 billion) and the fifth-largest Ethereum wallet ($2.5 billion). The discoveries regarding Grayscale, however, do not relate to any specific crypto pockets.
Information is provided along with a court decision
On August 29, courts overturned an earlier denial from the U.S. Securities and Trade Commission (SEC), giving Grayscale a legal triumph. The SEC would need to review, but not necessarily approve, Grayscale’s application to convert its GBTC fund into a spot Bitcoin ETF under the current legal outcome.
According to current reports from Bloomberg, Grayscale appears to have abandoned its ambitions to launch an Ethereum futures ETF in Could. The article Grayscale’s Ethereum Belief is the second-largest ETH holding, according to Arkham, first appeared on CryptoSlate.
