- Institutional investors have purchased nearly $882 million in Ether (ETH) recently.
- BitMine Immersion Technology acquired over 106,000 ETH, raising its holdings to about $5.75 billion.
- An unidentified whale added 92,899 ETH to new wallets for long-term storage.
- BitMine and SharpLink raised significant capital through stock offerings.
- Profit-taking is emerging as some whales and the Ethereum Foundation sold portions of their ETH holdings.
Institutional demand for Ethereum’s token, Ether (ETH), continues to rise, with two major entities buying nearly $882 million worth of ETH in recent days. The purchases come as the price of ETH approaches all-time highs and more companies build up their digital asset reserves.
BitMine Immersion Technology, a publicly listed Bitcoin mining company, bought 106,485 ETH valued at about $470.5 million within the past ten hours. This latest activity brings BitMine’s total Ether portfolio to 1,297,093 ETH, worth approximately $5.75 billion, according to blockchain monitoring by Lookonchain. The company acquired the majority of its ETH through large over-the-counter deals and transfers from established institutional intermediaries such as Galaxy Digital, FalconX, and BitGo.
Another large investor, whose identity remains unknown, has accumulated 92,899 ETH—valued at about $412 million—in the past four days. This entity created three new wallets and withdrew the funds from the crypto exchange Kraken, indicating a strategy aimed at long-term holding. Lookonchain reports that such accumulation is part of a pattern of growing whale activity in the Ethereum market.
Meanwhile, corporate interest remains high. BitMine Immersion Technology is conducting a $24.5 billion at-the-market stock offering, while SharpLink has raised $389 million through common share sales. In addition, a new entity reportedly bought $1.3 billion in Ether across ten new wallets this week, surpassing recent inflow records by ETFs.
Standard Chartered increased its price target for ETH in 2025 to $7,500, up from $4,000, citing strengthened institutional demand and rapid stablecoin growth after recent U.S. regulatory developments. The bank forecasts ETH prices at $12,000 by 2026, $18,000 by 2027, and $25,000 by 2028.
Some investors are starting to take profits as the price of ETH nears a record high. On Wednesday, a whale group known as “7 Siblings” sold 19,461 ETH (around $88.2 million) within 24 hours at an average price of $4,532. The Ethereum Foundation also sold 2,795 ETH—worth about $12.7 million—in two separate transactions late Tuesday, according to blockchain data.
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