Arkham identifies 500 wallets related to Grayscale Ethereum Trust
Quick Take
- Arkham Intelligence identified over 500 wallet addresses tied to the Grayscale Ethereum Trust.
- The Trust is the second largest ETH entity globally with holdings of $5 billion, Arkham claims.
Crypto data platform Arkham Intelligence identified over 500 wallet addresses tied to the Grayscale Ethereum 
ETH
-0.20%
Trust.
The wallets do not hold more than $30 million in assets, Arkham wrote on social media, which "makes the identification process more difficult."
"We were able to identify the addresses by analyzing activity and cross-referencing with Grayscale's publicly reported balances," the platform added.
In all, Grayscale holds nearly 3 billion ETH, which Arkham claims makes it the second largest ETH entity globally.
Arkham also said that the Grayscale Ethereum Trust holds 3,590 
BTC
+0.30%
worth $92.7 million.
Grayscale's Ethereum Trust
The Grayscale Ethereum Trust provides investors passive exposure to the price of ether and was first formed in December of 2017. The Trust experienced a -60% discount at the beginning of 2023, but that has recently lessened to -30%, The Block's Data Dashboard shows.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
