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Arkham Intelligence, a renowned platform specializing in blockchain analytics, recently announced that they have discerned the wallet addresses linked to the Grayscale Bitcoin Trust. According to details shared on X (previously known as Twitter) on September 6, the trust is found to have over 1,750 addresses. The combined value of Bitcoin in these addresses is reportedly over $16 billion, making Grayscale the second largest Bitcoin holder worldwide.
Grayscale, which oversees the Bitcoin Trust amounting to more than $16 billion, is currently in a regulatory tangle with the U.S. Securities and Exchange Commission (SEC). Their objective is to evolve their Bitcoin Trust into an exchange-traded fund.
The Bitcoin community has been filled with speculations concerning the locations where Grayscale stores its significant collection of BTC. While many have been curious, Grayscale has consistently declined to share the exact wallet addresses, expressing concerns over the security of their holdings. This secrecy has led to skepticism among certain X users, with some even suggesting that Grayscale may not have as much Bitcoin as they proclaim.
In their report, Arkham disclosed that the Bitcoin stored in the initial three addresses they've identified is valued around $51 million. Interestingly, while the final two addresses identified didn't have any funds at the time of the report, they displayed transactions linked to other Grayscale Bitcoin Trust addresses. Some of these include addresses like 1L8k2SD9sdTTzdDxA19QdobLbUyKyV2RVi and 1CS1M4oVbcFnZjZ5hU5bk6vLi2Q5VSsmpX. Even though Arkham hasn't shared the full roster of Grayscale's wallet addresses, each of them has been distinctly tagged within the transaction histories.
When viewing Grayscale's profile on Arkham's platform, it indicates that the firm holds 627,779,000 BTC, equating to over $16 billion. These figures align closely with the financial statements presented on Grayscale's official site, suggesting the firm has ample Bitcoin to handle withdrawals.
While Arkham Intelligence is celebrated for its blockchain insights, some users on X have voiced concerns over their approach, dubbing it as a platform that profits from disclosing private data. In defense, Arkham's CEO highlighted their goal: to bridge the information gap between large institutions and independent players in the crypto world.
