Arkham intelligence reveals US Bitcoin ETF addresses

Arkham Intelligence has identified the on-chain addresses of several prominent Bitcoin ETFs in the United States. This revelation, made public on the social platform X (formerly Twitter) on January 22, significantly enhances transparency in the cryptocurrency market. The identified ETFs include those managed by industry heavyweights like BlackRock, Bitwise, Fidelity, and Franklin Templeton.

Uncovering Bitcoin holdings of top ETFs

Arkham Intelligence’s analysis provides a detailed look into the Bitcoin holdings of these ETFs. BlackRock’s iShares Bitcoin Trust (IBIT) holds about 33,430 BTC, amounting to an estimated value of $1.3 billion. This discovery is in line with BlackRock’s publicly disclosed data, verifying the accuracy of Arkham’s research methodology.

The research firm had earlier pinpointed the Grayscale Bitcoin Trust’s (GBTC) addresses, which recently transitioned into a spot Bitcoin ETF following approval from the U.S. Securities and Exchange Commission in January 2024. GBTC stands out as the largest spot Bitcoin ETF, with a staggering 558,280 BTC, valued at nearly $29 billion.

Arkham’s initiative is part of a larger effort to map the on-chain addresses of all operational spot Bitcoin ETFs in the U.S. The addresses of ETFs managed by ARK Invest and 21Shares, Invesco and Galaxy, VanEck, Valkyrie, and WisdomTree are yet to be revealed, indicating the ongoing nature of this research.

Balancing transparency with security concerns

These on-chain addresses have sparked a debate within the cryptocurrency community about balancing transparency with security. Proponents argue that such transparency is essential for the safety and reliability of Bitcoin assets, enhancing trust in these financial products.

However, this openness does not come without risks. In November 2022, Grayscale declined to disclose its wallet details, citing security concerns. Similarly, 21.co and 21Shares co-founder Ophelia Snyder has warned about the potential dangers associated with revealing such sensitive information, including impacts on trading infrastructure and asset security.

This development by Arkham Intelligence is a pivotal moment in the push for greater transparency in the cryptocurrency industry. While it represents a positive step for investor assurance, it also underscores the ongoing challenge of finding the right balance between openness and security in the digital asset domain. As the market continues to mature, resolving these debates will be critical in shaping the future landscape of cryptocurrency investments and regulations.

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