Arkham Identifies $1.53 Billion in CoinShares Bitcoin ETP Wallets

Crypto Economy reported that Arkham Intelligence identified 98 on-chain addresses linked to the CoinShares Physical Bitcoin ETP, designated BITC. According to the report, those addresses collectively controlled 20,652 BTC, which Arkham valued at approximately $1.53 billion using market prices on November 11, 2026. The report also identified one address with 15,359.46 BTC, representing roughly $1.13 billion of the total. This single address accounted for most of the holdings attributed to the ETP-linked wallets, while the remaining 97 addresses together held 5,292.54 BTC based on the reported totals. The disclosure offers an on-chain snapshot of Bitcoin associated with a physically backed ETP rather than a breakdown of the product’s official reserve record. Arkham’s address labels provide the mechanism for connecting specific wallets with BITC, while the concentration in one address makes that wallet’s movements particularly relevant to future monitoring.

Bitcoin was priced at $73,995 at the time of the market snapshot, up 0.86% over 24 hours but down 7.97% over seven days. Its market capitalization stood at $1.49 trillion, while the broader crypto market was worth $2.52 trillion and remained broadly flat. The Fear & Greed index registered 28, placing sentiment in the “Fear” category. Changes to the labeled addresses, the balance of the largest wallet, and Bitcoin’s price will determine whether the reported $1.53 billion valuation rises or falls.