Bitcoin News Today: Institutional Whales Quietly Shifting Fortune from Bitcoin to Ethereum

Bitcoin exchange-traded products (ETPs) have accumulated more than 1.47 million BTC, representing approximately 7% of the total supply of 21 million coins, according to data from HODL15Capital. This marks a significant concentration of Bitcoin within institutional and retail investment vehicles, with U.S.-based ETPs accounting for the majority of these holdings. BlackRock’s iShares Bitcoin Trust ETF (IBIT) leads the pack, holding 746,810 BTC, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) is the second largest with nearly 199,500 BTC [1].

The accumulation has occurred largely over 2025, with global Bitcoin ETPs adding more than 170,000 BTC since January, equivalent to roughly $18.7 billion in value. However, recent trends suggest a cooling in investor demand. CoinShares reported that global Bitcoin ETPs experienced net outflows of $301 million in August, while Ethereum funds attracted $3.95 billion in inflows during the same period [2]. This shift reflects broader investor behavior, as large crypto holders, or "whales," have been pivoting funds from Bitcoin to Ethereum. For instance, a single whale recently sold 4,000 BTC for nearly 97,000 ETH, increasing their Ethereum holdings to an estimated $3.8 billion. Arkham Intelligence noted that nine whales collectively rotated $456 million from Bitcoin to Ethereum, signaling a strategic move to lock in profits and reallocate capital [1].

The decline in Bitcoin demand coincides with historical patterns, as September is typically a weaker month for the asset. Additionally, attention has turned to the U.S. Securities and Exchange Commission (SEC), which is currently reviewing 92 crypto-related ETF applications, including those tracking Solana and XRP. A decision on many of these funds is expected by October, potentially influencing market dynamics [2]. Analysts have also pointed to the broader macroeconomic environment as a factor in Bitcoin’s performance. Delphi Digital suggested that Bitcoin could experience a short-term rally if the Federal Reserve cuts interest rates, but warned of a potential correction afterward, particularly if price activity is subdued leading up to the rate announcement [1].

Amid these developments, some analysts remain optimistic about Bitcoin’s long-term trajectory. Pseudonymous analyst PlanC has posited that Bitcoin’s path to $1 million may be gradual rather than explosive, estimating a “boring and underwhelming” seven-year climb. These projections highlight the uncertainty and evolving nature of the market. Meanwhile, the CEO of Nakamoto, David Bailey, has suggested that Bitcoin could reach $150,000 once whale selling activity subsides, pointing to a scenario where large holders stabilize the market after a period of profit-taking [1].

The broader crypto market appears to be in a transitional phase, with Bitcoin’s dominance slightly waning as Ethereum and other altcoins attract growing investor interest. While Bitcoin remains the largest cryptocurrency by market capitalization, the accumulation of large positions and regulatory developments could shape its future performance. Market participants are closely watching both whale activity and the outcome of pending ETF applications, which could have far-reaching implications for Bitcoin’s price and adoption [2].

Source: [1] Bitcoin ETPs now hold 7% of Bitcoin's maximum supply (https://cointelegraph.com/news/bitcoin-etps-hold-7-percent-bitcoin-total-supply) [2] Bitcoin ETPs Now Hold Over 1.47 Million BTC, 7% of Total ... (https://finance.yahoo.com/news/bitcoin-etps-now-hold-over-074456885.html)