Arkham Intelligence has mapped 98 blockchain addresses to CoinShares' Physical Bitcoin Exchange‑Traded Product (ETP), which trades under the ticker BITC. The addresses collectively hold 20,652 BTC, valued at roughly $1.53 billion at current market prices.
Wallet distribution
The 98 addresses are unevenly weighted. Two remain active, with one address containing 15,359.46 BTC—about three‑quarters of the total holdings—and valued at approximately $1.13 billion. This address was first funded in March 2026. The remaining 97 addresses together hold 5,292.54 BTC.
Broader labeling effort
Arkham’s labeling, which went live between November 9 and 11, 2026, was part of a larger initiative that added around $3 billion in Bitcoin and other digital‑asset fund addresses to its platform. CoinShares' BITC was the largest single contributor, accounting for $1.52 billion of the newly labeled assets.
Implications for investors
Because Bitcoin’s blockchain is public, the labeled addresses provide a verifiable reference for the fund’s reported holdings. Investors can monitor the wallets for any significant movements, offering transparency beyond traditional periodic holdings reports.
Product details
BITC is a physically backed ETP issued by CoinShares Digital Securities Limited, with assets under management estimated between $1.5 billion and $1.7 billion. CoinShares states that the Bitcoin backing the product is not lent out and that investors may redeem shares for the underlying asset.
