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Grayscale Ethereum Trust identified as second-largest ETH holder by Arkham Intelligence

TL;DR

  • Arkham Intelligence identified Grayscale Ethereum Trust as the second-largest holder of Ether, with nearly $5 billion in assets spread across over 500 wallet addresses.
  • Grayscale’s Ethereum Trust bridges traditional finance and the crypto market, allowing investors to gain exposure to Ethereum without direct asset handling.

In a revealing analysis, crypto data platform Arkham Intelligence identified Grayscale Ethereum Trust as the world’s second-largest holder of Ether (ETH), with nearly $5 billion in assets.

Over 500 wallet addresses linked to Grayscale’s Ethereum Trust

Arkham Intelligence utilized on-chain analysis to identify over 500 wallet addresses associated with Grayscale’s Ethereum Trust. Interestingly, none of these wallets held more than $30 million in assets, a factor that Arkham noted made the identification process challenging. The data platform was able to pinpoint these addresses by scrutinizing transactional activity and cross-referencing it with Grayscale’s publicly reported balances. In total, Grayscale holds close to 3 billion ETH, solidifying its position as a major player in the Ethereum ecosystem.

Grayscale’s role in bridging crypto and traditional finance

Launched in December 2017, Grayscale’s Ethereum Trust (ETHE) serves as a bridge between the cryptocurrency market and traditional finance. The trust allows investors to gain exposure to Ethereum without the need to buy, store, or directly access the digital asset. This innovative financial product has positioned Grayscale as a leading entity that connects the crypto market with traditional financial systems. The company also recently gained approval for its Bitcoin Trust ETF, further cementing its role as a pioneer in digital currency investment products.

Grayscale’s Ethereum Trust not only holds a significant amount of Ether but also plays a crucial role in introducing cryptocurrency to traditional financial markets. The trust’s structure, which eliminates the need for direct asset handling, makes it an attractive investment vehicle for those unfamiliar with the complexities of cryptocurrency management. As Grayscale continues to expand its range of digital currency investment products, it is likely to attract even more attention from both individual and institutional investors, especially given its recent legal victory against the SEC over its Bitcoin Trust ETF. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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