Grayscale’s Bitcoin Holdings Revealed: Second-Largest BTC Player With $16 Billion

Their findings, which were made public on X (previously Twitter), on September 6, stated that GBTC consists of more than 1,750 addresses that collectively hold Bitcoin worth more than $16 billion. The company’s position as a major player in the cryptocurrency industry is strengthened by this information.

Arkham Intelligence was able to discover the distribution of funds across these addresses, with each holding 1,000 BTC or less, despite Grayscale’s efforts to keep the trust’s on-chain addresses secret.

 

 

 

 
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This information is supported by the fact that its official website states that its BTC trust has total assets of $16.009 billion.

As it seeks to transform into an exchange-traded fund (ETF), the Grayscale Bitcoin Trust is currently engaged in a legal dispute with the Securities and Exchange Commission (SEC) of the United States. The company’s ongoing efforts to adapt to the changing regulatory landscape surrounding cryptocurrencies are exemplified by this move.

Notably, Arkham Intelligence previously discovered 500 cryptocurrencies linked to the Grayscale Ethereum Trust, making it the second-largest Ethereum organization worldwide with $4.9 billion in assets under management (AUM).

After trading at a discount of 55% in June, this trust is now trading at a 30% discount to its net asset value (NAV).

Additionally, Arkham Intelligence’s research revealed that Robinhood owns the fifth-largest Ethereum wallet and the third-largest Bitcoin wallet. Grayscale’s custodial partner, Coinbase, later published a comprehensive report addressing these concerns after Grayscale faced scrutiny regarding the transparency of its Bitcoin holdings.

Investors are increasingly looking for regulated and secure financial products as the crypto market grows, which has contributed to the rise of Grayscale and the ongoing ETF debate in the industry.