World's Second! Grayscale holds over $5 billion worth of Ethereum, analysis firm Arkham has identified over 500 addresses

The on-chain data analytics firm Arkham 9/2 claimed that it has identified the on-chain address of the Grayscale Ethereum Trust, stating that Grayscale is purportedly the world's second-largest institutional holder of ETH, with over $5 billion. Arkham stated that this had never been discovered or publicly identified before.

Breaking: Arkham has identified the Grayscale Ethereum Trust on chain.

It is now the second largest ETH entity globally with $5B in ETH.

This had not been previously reported or publicly identified. pic.twitter.com/MQqKT6E9v6

— Arkham (@ArkhamIntel) September 1, 2023

Grayscale Holds Over Five Hundred Ethereum Addresses, None Exceeding Thirty Million USD

The blockchain data analysis firm, Arkham, has identified over five hundred Grayscale addresses, with none holding more than thirty million USD. Arkham believes this will make identification more challenging, including the analysis of on-chain activities and cross-referencing balances.

Grayscale is Applying for an Ethereum Futures ETF

In May of this year, digital asset management company Grayscale Investments announced the establishment of the Grayscale Funds Trust, structured as a statutory trust in Delaware, enabling Grayscale to independently manage its ETF charter and agency products established under the Investment Company Act. The Grayscale Ethereum Futures ETF, ETHG, aims to achieve its investment objective through actively managing Ethereum futures contracts. Currently, such contracts are only traded on the Chicago Mercantile Exchange (CME), with the remaining cash being invested in money market instruments.

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