Cryptocurrency analytics company Arkham has managed to detect all wallets of Grayscale's popular trust, Grayscale Bitcoin Trust (GBTC), on the BTC network.
According to Arkham, GBTC is the second largest BTC whale in the world, holding more than $16 billion worth of BTC as of September 6, 2023. Arkham claims that GBTC's holdings are spread across more than 1750 different addresses, each holding no more than 1000 BTC.
Strictly speaking, the GBTC product holds a total of 627,779 BTC on behalf of its investors, and the value of these coins is $16.26 billion at the time of this writing.
Grayscale also has large assets in other trusts outside the BTC network. These include the following tokens:
- ETH: $4.99 billion
- LINK: $1.9 million
- MATIC: $1.79 million
- UNI: $1.18 million
- BAT: $1 million
- MKR: 380 thousand dollars
- AAVE: 277 thousand dollars
- SNX: 216 thousand dollars
- CRV: 133 thousand dollars
- AVAX: 70.8 thousand dollars
Arkham's statement is important because GBTC has never publicly disclosed its on-chain addresses, although it regularly reports its balances. GBTC is operated by Grayscale Investments, a digital asset management firm that offers other cryptocurrency trusts such as Ethereum Trust (ETHE), Chainlink Trust (LINK), and Polygon Trust (MATIC).
*This is not investment advice.