Whales and Institutions Go All-In on Ethereum Ahead of New Highs
Ethereum continues to attract heavy institutional interest, with over $880 million in ETH purchased by just two entities this week.
BitMine Immersion Technology led the buying spree, securing 106,485 ETH (about $470 million) in 10 hours, bringing its holdings to 1.29 million ETH worth $5.75 billion.
Most of the purchases came via large OTC deals with intermediaries like Galaxy Digital, FalconX, and BitGo.
Meanwhile, an anonymous whale withdrew 92,899 ETH (roughly $412 million) from Kraken into new wallets, signaling long-term storage.
The buying comes alongside major fundraising activity. BitMine is raising $24.5 billion through an at-the-market stock offering, while SharpLink secured $389 million from a share sale.
Other whales have also been active, with one new entity accumulating $1.3 billion in ETH across 10 wallets—surpassing the $1 billion inflows posted by ETFs earlier this month.
Standard Chartered recently lifted its 2025 ETH forecast to $7,500, with long-term targets of $12,000 in 2026, $18,000 in 2027, and $25,000 in 2028, citing stronger institutional demand and accelerating stablecoin adoption.
Still, some profit-taking has surfaced as ETH nears its record high. The “7 Siblings” whale group sold 19,461 ETH ($88 million) within 24 hours, while the Ethereum Foundation offloaded around 2,800 ETH worth $12.7 million.
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Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
