The Grayscale Bitcoin Trust
Arkham Intelligence, a blockchain analytics platform, has reportedly uncovered the addresses associated with the Grayscale Bitcoin Trust. This trust, considered the second largest Bitcoin entity globally, holds more than 1,750 addresses holding over $16 billion worth of Bitcoin (BTC). The information was shared on X (formerly Twitter) on September 6.
The Battle with SEC
Grayscale, the issuer of the Grayscale Bitcoin Trust, is currently embroiled in a battle with the U.S. Securities and Exchange Commission (SEC) as it seeks to transform the trust into an exchange-traded fund (ETF).
Speculation Surrounds Grayscale's Bitcoin Holdings
For a long time, the Bitcoin community has speculated about the location of Grayscale's substantial Bitcoin holdings. Grayscale has consistently refused to disclose the addresses of its wallets, citing security concerns. This lack of transparency has led some Twitter users to accuse Grayscale of holding fewer Bitcoins than claimed.
The Unveiling of Five Addresses
Using Arkham's search feature, five addresses associated with the Grayscale Bitcoin Trust were revealed on September 9. The addresses are as follows:
- 16vd2YfcGK9mw3GZXzL5o23m7gdBGXKHNz
- 1GRGfd3TtBA2vMjoHH3hVpE6CRx5nZ1YJp
- 15gioFeKnUjerTQ9LYNreW3Bt9kn9xrTU4
- 1DtdMtJL2zggkoFPDbEbM2Ja1EYH8LeH9B
- 1CU9gusmCCfCjsmGatxbzvXLqoisgnaV9n
Based on Arkham's calculations, the first three addresses hold approximately $51 million worth of Bitcoin. The last two addresses do not have any funds at the moment but have shown transactions from other Grayscale Bitcoin Trust addresses in the past. Some of these associated addresses include 1L8k2SD9sdTTzdDxA19QdobLbUyKyV2RVi and 1CS1M4oVbcFnZjZ5hU5bk6vLi2Q5VSsmpX. While Arkham has not provided a complete list of addresses, it has clearly labeled each Grayscale address as part of the transaction history of each wallet.
Consistency in Bitcoin Holdings
A look at Grayscale's entity page on Arkham reveals that it holds 627,779,000 BTC, valued at over $16 billion. This aligns with the information provided by Grayscale on its own website, suggesting that the company does indeed possess enough Bitcoin to satisfy withdrawals.
Controversies Surrounding Arkham Intelligence
Arkham Intelligence has faced criticism in the past for disclosing private information about blockchain users, leading some to call it a "snitch-to-earn" platform. However, the CEO of Arkham argues that their intention is to level the playing field between large institutions and smaller players who otherwise lack access to crucial information.
