Blockchain data indicates that BitMine Immersion Technology, a publicly traded Bitcoin mining firm, purchased 106,485 ETH worth approximately $470.5 million over the past ten hours, bringing its total Ether holdings to 1,297,093 ETH, valued at roughly $5.75 billion. These acquisitions took place through large over-the-counter transactions and direct transfers from institutional intermediaries including Galaxy Digital, FalconX and BitGo.
Simultaneously, an unidentified large-scale investor established three new wallets and withdrew a total of 92,899 ETH, equivalent to about $412 million, from Kraken. This activity suggests a deliberate strategy to accumulate and potentially hold the tokens long term, bypassing exchange-related liquidity constraints.
The buying spree underscores a broader trend of institutional interest in Ether, as firms seek exposure for both treasury diversification and speculative positioning. Standard Chartered recently raised its year-end 2025 Ether price forecast from $4,000 to $7,500, citing intensified institutional inflows and expanding options for digital asset investment products.
While accumulation continues, profit-taking has begun to emerge. On Wednesday, a prominent whale cluster known as Seven Siblings sold 19,461 ETH—worth $88.2 million—over a one-day span at an average price near $4,532. The Ethereum Foundation also liquidated 2,795 ETH in two tranches, valued at approximately $12.7 million.
This juxtaposition of large-scale purchases and strategic sales reflects maturing market dynamics, with institutional entities balancing long-term conviction against short-term risk management. Analysts note that the confluence of ETF launches, corporate treasury allocations and supply-side reductions on exchanges could drive further volatility and potential price breakthroughs for Ether.
As on-chain metrics continue to evolve, observers will monitor metrics such as exchange balances, staking volumes and the pace of large-scale OTC deals to gauge future supply-demand imbalances. The recent surge in acquisitions signals that major market participants view Ether as a core component of diversified digital asset portfolios, reinforcing its role within the expanding institutional adoption narrative.
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