The crypto analysis company Arkham has successfully identified all the wallets of Grayscale’s popular trust, Grayscale Bitcoin Trust (GBTC), on the Bitcoin network.
According to Arkham, GBTC is the world’s second-largest Bitcoin whale with over $16 billion in BTC as of September 6, 2023. Arkham claims that GBTC’s assets are spread across more than 1750 different addresses, with each holding less than 1000 BTC.
To be precise, the GBTC product holds a total of 627,779 BTC on behalf of investors, and the value of these coins at the time of this writing is $16.26 billion.
Grayscale also holds significant assets in its other trusts outside the Bitcoin 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: $380,000
- AAVE: $277,000
- SNX: $216,000
- CRV: $133,000
- AVAX: $70,800
Arkham’s announcement is significant because GBTC had never publicly disclosed its addresses on the blockchain, despite regularly reporting its balances. GBTC is operated by Grayscale Investments, a digital asset management firm that also offers other crypto trusts like Ethereum Trust (ETHE), Chainlink Trust (LINK), and Polygon Trust (MATIC).