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Introduction to Arkham’s Crypto Wealth Index
Arkham Intelligence recently unveiled a comprehensive ranking of the 100 wealthiest entities in the cryptocurrency industry. This list aggregates on-chain holdings across verified address clusters, evaluating them in US dollars. According to Arkham, the cumulative wealth of these top 100 entities surpasses an impressive $1.6 trillion. This figure highlights the significant capital amassed by a select group of exchanges, custodians, protocols, corporations, and influential individuals. The detailed research findings were shared on social media on September 9, 2025, with valuations verified as of September 2, 2025.
Understanding the Structure of Arkham’s Rankings
Arkham’s methodology focuses on ranking entities rather than individual wallets. They define an entity as a collection of cryptocurrency addresses managed by a single person or organization. This approach provides a clearer understanding of the true financial power held by these crypto giants. Each entity’s entry in the list is linked to its respective Arkham Intel page, where the underlying addresses and asset compositions can be explored in detail.
The Leading Forces in Crypto Holdings
The upper echelon of the list is dominated by centralized exchanges and major institutional platforms. Binance holds the top position with assets valued at $209.19 billion, followed by Coinbase at $155.81 billion. Arkham’s Satoshi Nakamoto entity, representing early-mined Bitcoin clusters, ranks third with $125.07 billion. BlackRock follows with $100.77 billion, Lido with $69.86 billion, and MicroStrategy with $53.21 billion. Fidelity Custody and Grayscale secure the seventh and eighth spots with $47.46 billion and $34.10 billion, respectively. Korean exchange Upbit holds $32.80 billion, while DeFi protocol Aave completes the top ten with $31.57 billion.
Beyond the Top Ten: A Diverse Array of Crypto Titans
Outside the top ten, the list reveals the diversity among the largest cryptocurrency holders. Notable trading platforms and market infrastructure providers such as OKX, Kraken, Bitfinex, and Bybit are present, alongside Layer 2 solutions and DeFi treasuries like Arbitrum, Uniswap, Spark, Curve, and Maker’s Sky. Government-related clusters also make an appearance, with the “US Government” ranked 20th at $23.42 billion and the “UK Government” at $6.99 billion, reflecting seized or controlled on-chain assets. Additional categories include wrapped assets like WBTC, staking and restaking protocols such as Lido, EigenLayer, and Ether.fi, and influential memecoin or launchpad ecosystems.
Dynamic Market Analysis and Methodology
Arkham’s report emphasizes that this is a snapshot of a dynamic market rather than a static wealth list. The methodology involves multiplying the assets held across an entity’s identified addresses by market prices as of September 2, 2025. Consequently, rankings can fluctuate with changing prices, inflows and outflows, and new address attributions. Arkham highlights the significant influence these top 100 entities may have on market liquidity and structure, noting that their collective assets exceed $1.6 trillion.
Current Market Trends
As of the latest update, Bitcoin was trading at $112,322, reflecting ongoing market fluctuations.
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