Crypto data tracking platform Arkham Intelligence has identified over 1,750 wallet addresses linked to Grayscale Bitcoin Trust's holdings.
Each wallet held less than 1,000 BTC ($25.7 million), but the total accrues to roughly $16.1 billion in holdings, Arkham wrote on social media. That makes the Grayscale Bitcoin Trust the second largest BTC entity globally, the platform said.
The Grayscale Bitcoin Trust holds an additional 3.03 million ETH worth $4.9 billion.
The Grayscale Bitcoin Trust allows investors to gain exposure to bitcoin without having to purchase or store the cryptocurrency directly. The fund often trades at a discount relative to the value of the actual bitcoin it holds, with the measure currently declining to the lowest level seen so far this year amid speculation that Grayscale might be able to convert the product into a spot ETF.
Grayscale Ethereum Trust
Arkham also reported earlier this month that the Grayscale Ethereum Trust is the second largest ETH entity globally after identifying wallets containing nearly 3 billion ETH.
