The onchain intelligence platform, Arkham has identified digital currency manager Grayscale’s Ethereum Trust on the blockchain.
Arkham finds that the Grayscale ETH Trust holds approximately $5 billion in assets, making it the second-largest holder of Ether.
Grayscale Ethereum Trust (ETHE), which was launched in December 2017, exposes Ethereum to the traditional finance ecosystem as a security and an investment asset. It essentially enables to invest in ETH without actually buying, storing or accessing ETH directly.
The funds in trust are distributed across more than 500 different addresses, with none of them holding ETH valued at more than $30 million in total. Arkham claims to be the first entity to discover Grayscale’s ETH holding on the blockchain.
“We were able to identify the addresses by analyzing activity and cross-referencing with Grayscale’s publicly reported balances,” it said.
Grayscale is one of the leading players that connects crypto market with traditional finance with it offering numerous digital currency investment products. Recently, Grayscale won approval for its Bitcoin Trust ETF while slamming the SEC in a legal conflict against.
