October 3, 2023 6:52 am

Arkham unveils Grayscale Bitcoin Trust’s purported wallet addresses

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According to blockchain analytics platform Arkham Intelligence, the addresses of the Grayscale Bitcoin Trust have been identified. The trust is composed of more than 1,750 addresses that hold a total of over $16 billion worth of Bitcoin (BTC). Arkham claims that Grayscale is currently the second-largest Bitcoin entity globally.

In a tweet on September 6, Arkham announced that they have identified the holdings of the Grayscale Bitcoin Trust on the blockchain. The trust, holding more than $16 billion worth of BTC, is now confirmed to be the second-largest Bitcoin entity in the world. Despite publicly reporting balances, Grayscale has refused to disclose the on-chain addresses of the trust.

The Grayscale Bitcoin Trust is a major player in the cryptocurrency market, with over $16 billion invested in BTC. However, Grayscale is facing challenges from the U.S. Securities and Exchange Commission (SEC) as it attempts to convert the trust into an exchange-traded fund (ETF).

The Bitcoin community has long speculated about the whereabouts of Grayscale’s significant stockpile of BTC. Grayscale, however, has consistently declined to provide the addresses of its wallets, citing security concerns. Some users have criticized Grayscale for not disclosing the addresses, accusing the company of holding less Bitcoin than it claims.

Recently, Arkham conducted a search on September 9 and revealed five addresses associated with the Grayscale Bitcoin Trust. Three of these addresses hold approximately $51 million worth of Bitcoin, while the last two do not contain any funds but have transaction records from other Grayscale Bitcoin Trust addresses. Arkham does not provide a complete list of addresses for the Grayscale entity but clearly identifies each Grayscale address within the transaction history of each wallet.

Arkham’s platform displays that Grayscale’s entity page carries over 627,779,000 BTC, valued at more than $16 billion. This aligns with the information provided on Grayscale’s website, suggesting that the company does possess sufficient Bitcoin to accommodate withdrawals.

It is worth noting that Arkham has faced criticism for disclosing private information about blockchain users, with some labeling it a “snitch-to-earn” platform. However, the CEO of Arkham has defended the company, stating that their objective is to level the playing field between larger institutions and smaller players who might otherwise lack essential information.

The identification of the Grayscale Bitcoin Trust’s addresses provides greater transparency and insight into one of the largest Bitcoin entities globally. As Grayscale continues to navigate regulatory challenges, the revelation of these addresses may serve as a development of interest to industry observers and market participants.

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Original Source: Arkham unveils Grayscale Bitcoin Trust’s purported wallet addresses

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