Crypto intelligence platform Arkham Intelligence names Grayscale Investments' Ethereum Trust days after Robinhood was an ETH whale

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Crypto intelligence platform Arkham Intelligence names Grayscale Investments' Ethereum Trust days after Robinhood was an ETH whale

The cryptocurrency intelligence platform Arkham Intelligence has named Grayscale Investments' Ethereum Trust, the second-largest Ethereum holder, days after it revealed Robinhood was an ETH whale.

The leading cryptocurrency asset management company, Ethereum, is currently the second-largest in the world, with a worth of around $5 billion in ETH.

The funds under Grayscale's Ethereum Trust are divided across more than 500 addresses, each holding $30 million or less.

Arkham identified the addresses through analyzing their activities and cross-referencing their balances with the investment firm's report.

The information on Grayscale's official website, where the company's Ethereum Trust holds almost $5 billion in assets, matches the numbers on Arkham's official website.

A few days ago, Grayscale Investments was at the forefront of a federal appeals court's decision that favored its claim. In its legal battle against the US Securities and Exchange Commission, a three-judge panel for the District of Columbia Circuit Court of Appeals favored Grayscale Investments.

The court alleged the SEC was wrong in rejecting Grayscale's request to launch an ETF using the Bitcoin spot price as its basis, noting that the SEC failed to explain its difference of treatment of similar products, according to an unverified copy circulating online.

The court ruled that s petition and vacate the order.

Arkham's tweet came a couple days after the site identified Robinhood as the fifth-largest Ethereum holder and revealed that they were holding 34 trillion Shiba Inu tokens.

Arkham has named Robinhood the third-largest Bitcoin wallet, which currently holds 118,300 BTC, equivalent to approximately $3.2 billion based on the market price.

ETH was trading at an increase of $1,638.57 as of 3:39 a.m. ET on Friday. ET on Monday, with a 24 hour trading volume up by 22.10% at $3,350,384,215 - representing a 0.23% increase in the last 24 hours and a loss of 0.2% over the past seven days.

The circulating supply of ETH has been reduced to 120,217,696 coins, down by 0.24% at a $196,975,540,349 market cap, according to data from CoinMarketCap.