Kraken Reports Shift in User Assets After Sixth Proof-Of-Reserves Audit

Crypto exchange Kraken has released its sixth proof-of-reserves audit, revealing notable shifts in user asset holdings as of March 31, 2025. The report indicates a potential change in investor sentiment regarding Bitcoin (BTC), with a decrease in BTC holdings while Ethereum (ETH) and Solana (SOL) saw growth. Analyzing the data reveals that Kraken users’ BTC holdings dropped by over 9%, representing a decrease of 16,749 BTC from the previous snapshot in September 2024. This shift may be due to users exploring other tokens like ETH and SOL, potentially driven by their performance or strategic investment decisions.