Grayscale, one of the largest holders of Bitcoin, is also reportedly the second-largest holder of Ethereum, according to a recent report by crypto analytics platform Arkham Intelligence. The platform identified Grayscale Ethereum Trust on-chain, with the asset manager holding close to $5 billion in Ether.The crypto analytics firm noted that Grayscale’s ETH holdings were split across over 500 addresses, with none holding over $30 million. This made it more difficult for Arkham to identify Grayscale’s ETH holding.Grayscale is one of several firms hoping to tap into both the Bitcoin and Ethereum ETF markets. The asset manager has filed an application with the US Securities and Exchange Commission to launch its Grayscale Ethereum Futures ETF. Grayscale also has an application with the SEC to offer a Spot Bitcoin ETF.It is believed that the launch of Grayscale’s ETH futures ETF could significantly impact Ethereum’s price and probably see it break above $2,000. This belief stems from the fact that the launch of ETH futures ETF would bring added trading volume for the crypto asset and invariably see a surge in its price. Furthermore, Grayscale’s victory against the SEC gives an insight into how the crypto market, including ETH, could react on the back of a major milestone in the crypto industry. The approval of Grayscale’s ETH futures application, alongside other pending ones, could be massive for Ethereum and the crypto market as a whole.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 8 |
| People | None |
| Companies | US Securities and Exchange Commission, Arkham Intelligence, Grayscale Bitcoin Trust (GBTC), Grayscale Ethereum Trust, Grayscale |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
