Ethereum Whales Accumulate $300M as ETF Inflows Hit $1.7B
Ethereum whales have continued to accumulate around $300 million in ETH over the weekend via Galaxy Digital’s OTC desk, boosting a single address’s holdings to 79,461 ETH. BlackRock’s iShares Ethereum Trust ETF drew $1.7 billion in inflows over ten trading sessions, driving a 40% rise in ETF-related ETH holdings in one month, according to Dune Analytics. Glassnode reported over 200 new addresses holding more than 10,000 ETH since July. ETH price dipped below $3,400 before rebounding to $3,560 amid expectations of renewed liquidity and potential Fed monetary easing. Despite August’s typical bearish seasonality—mirroring Bitcoin’s trend—the sustained whale accumulation and record ETF inflows may signal bullish momentum for ETH traders.
Bullish
Continuous whale accumulation of 79,461 ETH, combined with record $1.7 billion ETF inflows, highlights strong institutional and on-chain demand for Ethereum. In the short term, this buying pressure likely supports ETH’s price rebound above $3,500, countering typical August seasonality. Looking ahead, sustained demand from whales and growth in ETF holdings may reduce available supply and fuel further bullish momentum, although traders should monitor macro factors like Fed policy and overall crypto liquidity.