Bitcoin News Today: Galaxy Sells 80,000 BTC ($9B) to Satoshi-Era Holder in Estate Planning Move

Galaxy Digital executed one of the largest Bitcoin transactions in history, selling 80,000 BTC valued at approximately $9 billion to a Satoshi-era holder as part of an estate planning arrangement. The firm disclosed the sale on Friday, sparking widespread debate about the shifting strategies of early Bitcoin adopters. Crypto analyst Scott Melker suggested the move reflects growing uncertainty among veteran whale holders, noting, “Many of the most ardent early whales have been selling at these prices” [1]. The transaction has intensified discussions about whether long-term conviction in Bitcoin’s price trajectory is wavering amid macroeconomic uncertainties and regulatory scrutiny.

Meanwhile, SharpLink Gaming (SBET) announced the appointment of Joseph Chalom, a former BlackRock executive, as co-CEO. Chalom, who played a pivotal role in launching BlackRock’s spot ether ETF and digital asset initiatives, will oversee SharpLink’s strategic pivot to a crypto-focused treasury model centered on Ethereum. The company has accumulated $1.3 billion in ETH since May, aligning with chairman Joseph Lubin’s vision of transforming its balance sheet into on-chain assets. Current CEO Robert Pythian will transition to president and remain on the board during the leadership transition. Chalom’s experience with tokenization platforms like Securitize further strengthens SharpLink’s position in the evolving crypto landscape [2].

Spot ether ETFs continued to attract significant inflows, drawing $453 million in net assets on Friday—their 16th consecutive day of positive flows. Total assets under management for these ETFs now exceed $20.66 billion, with BlackRock’s iShares Ethereum Trust (ETHA) leading the pack by capturing $440 million, pushing its AUM to $10.69 billion. Bitwise and Fidelity also reported smaller inflows, while Grayscale’s ETHE faced ongoing outflows. The surge in demand underscores growing institutional confidence in Ethereum, with inflows since July 2 rising from $4.25 billion to $9.33 billion. By comparison, Bitcoin ETFs added $131 million on Friday, rebounding from earlier outflows but trailing the momentum of ether-based products [3].

The confluence of these developments highlights a maturing crypto market, where institutional participation and strategic corporate moves are reshaping asset allocations. Galaxy’s massive BTC sale raises questions about the balance between long-term holding and liquidity needs for early adopters, while SharpLink’s leadership shift underscores the integration of traditional finance expertise into crypto-native firms. The sustained inflows into ether ETFs signal broader acceptance of Ethereum as a liquid and regulated asset class, potentially setting the stage for further innovation in tokenized securities and cross-chain applications.

Sources:

[1] Galaxy Digital transaction details and market commentary, https://www.cryptocompare.com/email-updates/daily/2025/jul/28/

[2] SharpLink Gaming executive appointment and ETH treasury strategy, https://www.cryptocompare.com/email-updates/daily/2025/jul/28/

[3] Spot ether ETF inflow data and asset comparisons, https://www.cryptocompare.com/email-updates/daily/2025/jul/28/