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- $11B Bitcoin whale now holds over $4B in ETH, surpassing SharpLink’s treasury.
- Whale’s rotation sparks $456M in ETH buys from other investors.
- Institutional demand grows with $1.8B in spot ETH ETF inflows.
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A mysterious Bitcoin whale worth over $11 billion is accelerating a major rotation into Ethereum (ETH), amassing more than $4 billion worth of the asset. The move positions the whale ahead of SharpLink Gaming, the world’s second-largest corporate Ether holder, highlighting a broader trend of whales and institutions diversifying beyond Bitcoin (BTC).
Whale Buys $216M in Ether After Selling Bitcoin
According to Lookonchain, the whale recently sold $215 million worth of Bitcoin at $109,263 per coin, redirecting the funds into $216 million worth of spot Ether on decentralized exchange Hyperliquid. Following the latest accumulation, the investor now holds 886,371 ETH valued at over $4 billion.
The rotation began on August 21, when the whale sold $2.59 billion in BTC, using the proceeds for a $2.2 billion Ether spot purchase and a $577 million ETH perpetual long. Last week, he locked in $33 million profit by closing part of his position before re-accumulating another $108 million in ETH.
Ripple Effect Across the Whale Community
This multibillion-dollar shift has sparked similar activity among other major investors. Nine large whale addresses purchased a combined $456 million in ETH last week, signaling confidence in Ethereum’s upside potential. Analysts describe the trend as a “natural rotation” into altcoins, especially as ETH benefits from growing corporate and institutional accumulation.
Whale Holdings Surpass Corporate Players
The whale’s $4 billion Ether stash now exceeds SharpLink Gaming’s $3.5 billion holdings but remains half the size of Bitmine Immersion, the largest corporate ETH holder with $8 billion in assets. Meanwhile, spot Ether ETFs have seen more than $1.8 billion in inflows over the past five trading days, further underscoring rising institutional appetite
Institutions Broaden Beyond Bitcoin
“The pattern is clear: institutions are broadening their scope beyond Bitcoin,” said Iliya Kalchev, dispatch analyst at Nexo. “While short-term moves will hinge on macro events, long-term adoption and institutional inflows remain strong drivers.”
The whale’s massive Ether accumulation not only eclipses major corporate treasuries but also reflects a growing shift in institutional strategies. With ETFs and whales driving demand, Ethereum could be poised for a stronger role in the next crypto market cycle.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: XRP ETFs Could Smash Records With $5B Inflows—Bigger Than Bitcoin and Ethereum
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