A major crypto whale is making headlines after shifting billions from Bitcoin to Ether, signaling a significant shift in institutional investment trends.
Massive Bitcoin-to-Ether Rotation
A mysterious Bitcoin whale with a portfolio exceeding $11 billion has been steadily selling BTC and buying ETH. The latest move involved selling $215 million worth of Bitcoin at $108,629 per BTC and purchasing $216 million worth of Ether at $4,404 via the decentralized exchange Hyperliquid.
According to on-chain analytics firm Lookonchain, the whale now holds 886,371 ETH, valued at over $4 billion. This accumulation surpasses SharpLink Gaming’s corporate Ether holdings of 797,000 ETH (worth $3.5 billion).
Whale Activity Signals Market Rotation
The whale began reallocating funds on August 21, converting $2.59 billion worth of Bitcoin into $2.2 billion in spot ETH and opening a $577 million Ether perpetual long position. Last week, the whale closed $450 million of that long position at an average price of $4,735, securing a $33 million profit before adding more Ether.
Industry experts view this as part of a broader trend. “Institutions are clearly broadening their scope beyond Bitcoin,” said Iliya Kalchev, analyst at Nexo. Research analyst Nicolai Sondergaard from Nansen added that the move reflects the market’s “natural rotation” into Ether and high-potential altcoins.
Institutional Demand Boosts Ether
Spot Ether ETFs have further fueled this momentum, attracting $1.8 billion in inflows over the past five days, according to Farside Investors. This comes as Ethereum-based products outperformed Bitcoin ETFs in recent weeks.
With the latest buy, the whale now ranks among the largest Ether holders globally, trailing only Bitmine Immersion, which holds 1.8 million ETH worth $8 billion.
Key Takeaways
- Whale now holds $4 billion in Ether, surpassing SharpLink’s corporate holdings.
- Institutional investors are diversifying beyond Bitcoin into Ether.
- Spot ETH ETFs have seen $1.8B inflows in five trading days.
This strategic shift highlights growing confidence in Ethereum’s long-term potential, supported by ETF adoption and institutional buying. As whales lead the charge, ETH could see stronger market dominance in the coming months.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.