BitMine and Whale Buy $882M ETH, Spur Institutional Demand
Ethereum’s institutional demand is climbing after BitMine Immersion Technology bought 106,485 ETH (~$470.5M) via OTC in 10 hours. An anonymous whale added 92,899 ETH (~$412M) over four days through new wallets and Kraken withdrawals. These moves total $882M in ETH accumulation and signal growing market confidence. Meanwhile, BitMine launched a $24.5B ATM stock offering, and SharpLink closed a $389M capital raise. Standard Chartered lifted its 2025 ETH price target to $7,500, with forecasts of $12,000 in 2026, $18,000 in 2027 and $25,000 by 2028. Profit-taking by the 7 Siblings whale (19,461 ETH) and the Ethereum Foundation (2,795 ETH) could spark short-term volatility. However, ongoing ETH accumulation and bullish forecasts point to a positive long-term outlook. Traders should integrate these institutional trends into their strategies.
Bullish
Large-scale accumulation by BitMine and an anonymous whale—totaling $882M in ETH—underscores rising institutional demand for Ethereum. Facilitated via OTC and major intermediaries, these purchases minimize market impact. Coupled with Standard Chartered’s raised price targets through 2028, the trend points to growing confidence. Although recent profit-taking could trigger brief volatility, the scale of ETH purchases and bullish forecasts support a sustained upward trajectory. Traders can view this as a bullish signal for both short-term entries and long-term positions.