Arkham identifies 500 wallets related to Grayscale Ethereum Trust

Crypto data platform Arkham Intelligence identified over 500 wallet addresses tied to the Grayscale Ethereum 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 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.