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Grayscale’s BTC Reserves Amount to 633,000

ByLouis Adams

Nov 25, 2022 #Bitcoin
Reading time: < 1 minute

According to Ergo analyst from The OXT Research, the Bitcoin Trust (GBTC) owned by digital asset manager Grayscale Investments held 633,000 BTC in custodian Coinbase Custody wallets as of November 23.

The specialist asked:

“This begs the question: what prevents Grayscale from revealing its digital assets?”

User under the pseudonym skyquake-1 has noted that according to the statement of the Bitcoin trust to the SEC of January 2017, the custodian “may not disclose such public keys to a sponsor, trust or any other person or entity.”

Ergo has relied on Grayscale’s reorientation from Xapo to Coinbase Custody as custodian. This allowed the firm to assign 317,705 BTC belonging to GBTC to 432 addresses.