An independent analyst has confirmed that GBTC owns approximately 633,000 Bitcoin held by its custodian – Coinbase Custody. This comes as Grayscale, the asset manager running the world’s largest bitcoin fund, revealed that it won’t share its proof of reserves with customers.
According to the analyst, there could be two reasons explaining Grayscale’s reluctance. One, there could be a non-disclosure policy enforced by Coinbase Custody, or it could be a deliberate obfuscation by Grayscale itself.
(By Chayanika Deka)