Arkham Intelligence examined 500 wallets in Grayscale’s Ethereum ETF and found that the Trust has close to $5 billion in assets.
In the crypto industry, ETFs have become the hottest topic today. ETF fire, especially by BlackRock and its accompanying institutions, has been intensifying lately. Grayscale’s lawsuit and the SEC’s decision to delay also fuel this fire.
While all these ETF processes were going on, crypto data platform Arkham Intelligence conducted an interesting study. The platform examined 500 wallets affiliated with the Grayscale Ethereum Trust.
Grayscale’s Ethereum ETF draws attention
Arkham Intelligence has reviewed the Grayscale Ethereum Trust product, Grayscale’s Ethereum ETF. According to Arkham, the Grayscale Ethereum Trust has close to $5 billion in assets. This makes the Trust the second largest ETH asset globally.
Looking at the data from The Block, it appears that the Grayscale Ethereum Trust has been on a bearish curve since 2021. So demand is decreasing and the amount of Ethereum held in the Trust is shrinking. However, this Trust is still considered the second largest ETH asset after Ethereum.
Research organization Arkham also announced that the Grayscale Ethereum Trust holds 3,590 BTC ($92 million). Making a statement on social media, Arkham stated that there are not many people holding more than $ 30 million in assets in wallets, and therefore it becomes difficult to research. However, Arkham managed to detect 500 wallets.
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