Arkham Labels 40 VanEck Bitcoin ETN Addresses Holding Over $507 Million in BTC

Blockchain analytics platform Arkham has identified and labeled 40 cryptocurrency wallet addresses tied to VanEck's European Bitcoin exchange-traded note (VBTC). The addresses collectively hold 6,864.99 Bitcoin, valued at approximately $507 million, providing granular visibility into the physically backed product's on-chain reserves. The identification stems from Arkham's broader initiative to map roughly $3 billion in institutional fund holdings across multiple issuers, including CoinShares BITC, Invesco BTIC, and Grayscale's Solana Trust. The labeling allows market participants to track creations, redemptions, and institutional capital flows in real time without altering underlying custody mechanics.