Arkham Intelligence Identifies Grayscale's $16 Billion Onchain Bitcoin Holdings

Arkham Intelligence, a leading crypto analytics firm, unveiled on Wednesday its findings on Grayscale’s Bitcoin Trust onchain holdings. This revelation comes just six days after Arkham shed light on the fund manager’s onchain ethereum assets.

Unmasking Grayscale’s Bitcoin Trust: Arkham Intelligence Exposes $16 Billion Onchain Bitcoin Assets

The crypto analytics startup, Arkham Intelligence, has pinpointed and tagged Grayscale’s bitcoin reserves. In a post on X (previously known as Twitter), Arkham highlighted a Grayscale X post, which was shared in the aftermath of FTX’s downfall and the rising trend of proof-of-reserve audits. Grayscale had assured that Coinbase securely held its BTC, yet the onchain addresses remained undisclosed.

On Wednesday, Arkham elaborated that Grayscale stands as the second-largest BTC holder, boasting over $16 billion in bitcoin. Arkham noted that Grayscale’s “Bitcoin Trust holdings are spread across [more than] 1,750 different addresses, with each holding no more than 1,000 BTC.” The firm also provided a link for enthusiasts to explore Grayscale’s vast bitcoin and other crypto assets on Arkham’s platform.

The provided link displays Grayscale’s impressive $16 billion in BTC, complemented by nearly $5 billion in ethereum (ETH). Additionally, Grayscale possesses $1.86 million in chainlink (LINK), 1.74 million in polygon (MATIC), and a small variety of other altcoin assets. In total, Grayscale’s assets surpass $20.9 billion using current crypto market exchange rates, with BTC and ETH forming the bulk of its holdings.

Yet, Arkham isn’t the pioneer in aggregating Grayscale’s bitcoin (BTC) assets. An OXT researcher, known as “Ergo,” previously showcased Grayscale’s Bitcoin Trust collection in an X thread. Ergo’s onchain analysis emerged after Grayscale’s reserve declarations post the FTX debacle. Ergo also traced funds linked to Coinbase Custody, identifying over 600,000 BTC as Grayscale’s property. As of now, Arkham’s records show Grayscale’s balance stands at approximately 627,779 BTC.

What do you think about Arkham revealing Grayscale’s Bitcoin Trust holdings onchain? Share your thoughts and opinions about this subject in the comments section below.

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