According to Onchain Lens, the Royal Government of Bhutan transferred 355.51 BTC valued at $387.8M to newly created wallets, flagged via Arkham Intelligence’s Druk Holding & Investments entity tracking page (source: Onchain Lens on X https://twitter.com/OnchainLens/status/1971480257875279974; Arkham Intelligence https://intel.arkm.com/explorer/entity/druk-holding-investments). The Onchain Lens post did not indicate any deposits to centralized exchanges or provide a stated purpose for the move (source: Onchain Lens on X https://twitter.com/OnchainLens/status/1971480257875279974). Traders can monitor the Arkham entity page and the recipient addresses for follow-on transfers or exchange-linked tags to gauge potential market impact (source: Arkham Intelligence https://intel.arkm.com/explorer/entity/druk-holding-investments).

According to @lookonchain, wallets attributed to the Royal Government of Bhutan transferred 913 BTC valued at about $107 million to two new addresses on Sept 18, 2025, based on Arkham Intelligence on-chain entity labels for Druk Holding Investments. According to @lookonchain, the tagged entity still holds 9,652 BTC valued at roughly $1.13 billion per Arkham Intelligence data. According to @lookonchain, the movement was to two newly created wallets rather than known exchange deposit addresses, referencing Arkham Intelligence’s entity explorer for Druk Holding Investments.