A large Bitcoin investor has bought billions in Ether, showing strong interest in Ethereum over Bitcoin.
- A crypto whale sold $215 million worth of Bitcoin to buy Ether.
- The whale now holds more Ether than SharpLink Gaming.
- More large investors are also starting to buy Ether.
Massive Shift From Bitcoin to Ether
A powerful investor known as a “whale” has moved a large amount of money from Bitcoin (BTC) to Ether (ETH). The whale sold $215 million worth of BTC and bought $216 million in ETH using the decentralized exchange Hyperliquid.
With this move, the whale now owns 886,371 Ether tokens, valued at over $4 billion. This is more than the ETH holdings of the second-largest corporate holder, SharpLink Gaming, which holds around 797,000 ETH worth $3.5 billion.
Multiple Buys Signal Growing ETH Interest
The whale’s first major change happened on August 21. At that time, he sold $2.59 billion in BTC for a $2.2 billion ETH position and a $577 million ETH long trade. That position was partially closed later for profit before the investor bought another $108 million in ETH.
This has influenced other large investors. Reports say nine major crypto wallets bought $456 million worth of ETH in just one day last week. This shows growing trust in Ether’s future value.
Earnings and Institutional Growth
Demand from big investors has also pushed up ETH-related investment tools. For example, spot Ether exchange-traded funds (ETFs) added over $1.8 billion worth of ETH in just five days. These ETFs give investors an easy way to gain exposure to Ether without directly owning the tokens.
Industry experts say this trend shows that institutions are now looking at more than just Bitcoin. Iliya Kalchev, an analyst at Nexo, noted that long-term interest in ETH is growing due to wider adoption and the rise of new finance tools built on Ethereum.
Source: cointelegraph.com
