Ethereum News Today: Bitcoin Whale Sells $642M BTC For $577M Ethereum Investment

A long-dormant Bitcoin wallet, linked to a historic investor holding nearly 100,784 BTC—valued at over $642 million at the time of purchase—has shown activity for the first time in seven years, executing a massive sell-off of its Bitcoin holdings and converting the proceeds into Ethereum [1]. The transaction, reported by market analytics firm Lookonchain, marks a notable shift in strategy, as the holder liquidated a significant portion of their BTC and used the proceeds to acquire Ethereum, both in spot and leveraged positions [1].

The original purchase of Bitcoin occurred in 2018, when the asset traded at roughly $13,000, a fraction of its current price of $113,000. Assuming the investor bought at that level, the trade yields a staggering 1,613% return [1]. With the profits, the investor bought 62,914 ETH on the spot market and added a leveraged long position of 135,265 ETH, representing a total Ethereum holding of $577 million at the time of the trade [1].

Ethereum, the second-largest cryptocurrency by market capitalization, has seen increased interest from both retail and institutional investors in 2025. It has appreciated over 60% year-to-date, currently trading near $4,300, though it has since pulled back 8.5% from its recent peak of $4,700 [1]. The growing adoption of Ethereum-based treasury strategies and ETF products has also contributed to its rising profile. For example, Tom Lee’s BitMine and BlackRock’s iShares Ethereum Trust ETF hold substantial Ether reserves, with the latter managing 3.54 million ETH. Collectively, over $44 billion in Ether is now held in institutional treasuries and ETFs, amounting to nearly 9% of the total supply [1].

The whale’s move highlights a broader trend of capital shifting toward Ethereum, particularly as the network continues to improve its infrastructure through layer-2 solutions and post-merge optimizations. While the identity of the investor remains unknown, the magnitude and timing of the trade have sparked speculation about whether larger institutional players are beginning to reallocate their crypto portfolios toward the more utility-driven Ethereum ecosystem [1].

The transaction also reflects the dynamic and often unpredictable nature of the crypto market, where large movements by key holders can influence short-term price action. Analysts have noted that Ethereum has been showing signs of breaking through key resistance levels in recent weeks [2], potentially reinforcing the whale’s decision to pivot to ETH.

This strategic reallocation by a long-term Bitcoin holder underscores the evolving maturity of the crypto market, where even early adopters are adapting to new opportunities and market conditions. As Ethereum continues to attract institutional attention and adoption, such shifts may become increasingly common, signaling a broader transition in investor sentiment and asset preference [1].

[1] https://x.com/thecoinzonecom/status/1958933372777980383

[2] https://affirmgrowth.co/en/about.html