PANews reported on August 17 that Arkham clarified on the X platform that its on-chain tracking data showed that Grayscale's physical holdings were still larger than BlackRock's. This was mainly because the relevant data included Grayscale's GDLC fund, which has an asset management scale of approximately US$460 million, but is not an ETF. It is reported that Arkham previously disclosed data that BlackRock's ETF holdings exceeded Grayscale's for the first time.