Crypto data platform Arkham Intelligence identified over 500 wallet addresses tied to the Grayscale Ethereum Trust. 

The wallets do not hold more than $30 million in assets, Arkham wrote on social media, which "makes the identification process more difficult."

"We were able to identify the addresses by analyzing activity and cross-referencing with Grayscale's publicly reported balances," the platform added.

In all, Grayscale holds nearly 3 billion ETH, which Arkham claims makes it the second largest ETH entity globally. 

Arkham also said that the Grayscale Ethereum Trust holds 3,590 BTC worth $92.7 million. 

Grayscale's Ethereum Trust

The Grayscale Ethereum Trust provides investors passive exposure to the price of ether and was first formed in December of 2017. The …