Ethereum News Today: "Institutional Ethereum Bet Signals Blockchain's Shift as Korean Whales Tighten Grip"

Alibaba Group founder Jack Ma's financial arm, Yunfeng Financial Group, has significantly expanded its Ethereum holdings, acquiring 10,000 ETH tokens valued at approximately $44 million in September 2025. The purchase, disclosed via a voluntary announcement to the China Hong Kong Stock Exchange, positions the asset as part of the firm's strategic reserve portfolio, supporting real-world asset (RWA) tokenization and blockchain-based insurance innovations . Yunfeng, which operates as the publicly traded entity of Yunfeng Capital co-founded by Ma, emphasized the investment aligns with its July 2024 strategic roadmap prioritizing Web3 and digital currency integration . The firm's CEO, Huang Xin, highlighted that the Ethereum acquisition complements its broader financial technology services across Asia, including asset management and insurance . This move reflects a broader shift in China's approach to blockchain, where regulatory focus increasingly emphasizes infrastructure applications over speculative trading .

The investment coincides with Yunfeng's backing of Anthea Holding, a Bermuda-based Ethereum-focused insurance startup. The firm raised $22 million in Series A funding led by Yunfeng to develop blockchain-driven life insurance products, underscoring Ethereum's expanding role in traditional finance . This follows Ma's historical skepticism toward cryptocurrencies-most notably his 2018 dismissal of Bitcoin as a "bubble"-but signals a strategic pivot toward blockchain's institutional utility . Yunfeng's Ethereum holdings, categorized as "investment assets," are expected to underpin future RWA tokenization efforts and Web3 client services .

Meanwhile, South Korea's cryptocurrency market is dominated by a small cohort of large investors, or "whales," who control over 90% of trading volume on major exchanges. Data from the Financial Supervisory Service (FSS), cited by lawmaker Lee Heon-seung, reveals that the top 10% of users account for 91.2% of domestic crypto transactions, with Bithumb, Gopax, and Coinone showing concentrations exceeding 97% . For example, Bithumb's whale investors managed 97.97% of trading volume in the first half of 2025, leaving the bottom 90% of users with just 2.03% . Smaller-cap assets also exhibit high concentration, with whale investors controlling over 60% of trading in low-market-cap tokens . This dynamic has reshaped perceptions of the "listing effect," where new token listings on Korean exchanges historically triggered price surges, now attributed to whale-driven market manipulation .

Regulators are increasingly scrutinizing such dominance. The South Korean Financial Services Commission (FSC) recently imposed its first fine on a crypto whale under the Virtual Asset User Protection Act (VAUPA), targeting unfair trading practices like artificial volume creation and price exploitation . The FSC also plans to allow institutional access to crypto exchanges, potentially altering market dynamics as 3,500 professional investors gain entry in the second half of 2025 . Analysts caution that while institutional participation may stabilize prices, it could also deepen market concentration, challenging regulators to balance innovation with fair access .

The interplay between institutional Ethereum investments and whale-dominated markets highlights divergent trends in Asia's crypto landscape. While Yunfeng's $44 million Ethereum purchase and Anthea's insurance project reflect growing institutional confidence in blockchain's utility, South Korea's whale-driven markets underscore persistent volatility and regulatory challenges. Ethereum's technical indicators, including a confirmed V-bottom and triangle breakout, suggest potential for multi-year gains, with some analysts forecasting prices exceeding $8,000 by 2025 . However, the dominance of whales in South Korea's trading ecosystem complicates such projections, as market movements remain heavily influenced by a small group of actors.

[1] How High Can Ethereum Price Go in 2025? - Coinpedia (https://coinpedia.org/price-analysis/how-high-can-ethereum-price-go-in-2025/)

[2] Alibaba Founder's Financial Firm Purchases 10,000 Ethereum for ... (https://finance.yahoo.com/news/alibaba-founder-financial-firm-purchases-213907366.html)

[3] Jack Ma bets big on Ethereum? Alibaba founder indirectly invests ... (https://cryptobriefing.com/ethereum-asset-allocation-jack-ma/)

[4] Alibaba Ethereum Investment Grows as Korean Whales Dominate (https://coinfomania.com/alibaba-ethereum-investment-grows-as-korean-whales-dominate/)

[7] Whales Control Over 90% of Trading on South Korea's Crypto Exchanges, Data Shows (https://beincrypto.com/korea-crypto-buying-power-driven-by-whales/)

[10] South Korean Regulator Fines First Crypto Whale Under New Law (https://coinedition.com/south-korean-regulator-fines-first-crypto-whale-under-new-law/)