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The Community Traces 317K BTC As It Attempts To Identity Grayscale Reserves

@ErgoBTC, AKA Ergo, a blockchain researcher with OXT Research, disclosed findings from a community-led effort to trace Grayscale’s Bitcoin Trust (GBTC) reserves in a Twitter thread yesterday. 

Per the analysis, Ergo reveals that they have identified 432 addresses holding about 317,705 BTC, likely part of the GBTC reserves. It is worth noting that the team started its analysis around July 2019, when Grayscale moved custody of its assets to Coinbase from Xapo.

Grayscale declined to release a proof-of-reserves in response to community demands citing security concerns inspiring the effort from Ergo.

(By Ammara)

Grayscale Crypto GBTC
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