Ethereum News Today: Institutional Ethereum Buying Surpasses $882M Amid Retail Sell-Off

BitMine Immersion Technologies has acquired 106,485 ETH, valued at $470.51 million, over the past 10 hours, increasing its total Ethereum holdings to 1.297 million ETH, worth approximately $5.75 billion [1]. Concurrently, a mysterious whale transferred 92,899 ETH—valued at $412 million—from Kraken over four days, adding to a total institutional Ethereum accumulation of $882 million. This activity was confirmed by blockchain analytics firm LookOnChain [2]. These purchases occurred amid a period of retail panic selling as Ethereum experienced pullbacks [3].

BlackRock has been significantly increasing its Ethereum holdings, accumulating ETH 15 times faster than Bitcoin over the past 30 days. Ethereum’s holdings grew by 65%, compared to only 4% for Bitcoin, signaling a shift in institutional strategy toward Ethereum [4]. Meanwhile, former U.S. President Donald Trump reportedly added $8.6 million in Ethereum to his portfolio alongside $10 million in Bitcoin [5].

Ethereum is currently trading just 10.22% below its all-time high of $4,891, set in November 2021 [6]. Despite this rally, sentiment tracking platform Santiment noted that bearish commentary on social media outweighed bullish remarks [7]. Retail traders continue to exhibit “FUD and disbelief,” with key stakeholders taking advantage of the situation by accumulating coins that small traders are willing to part with [8].

Corporate Ethereum holdings hit a record high in July, increasing by 127% to 2.7 million ETH, valued at $11.6 billion. Over 70 companies now hold significant Ethereum positions across various sectors, with 24 new entities joining this group just in the past week [9]. BitMine, which has filed for an additional $20 billion in at-the-market equity offerings, aims to acquire and stake 5% of the total Ether supply—approximately 6 million ETH valued at $22 billion [10]. SharpLink Gaming also reported holding 728,804 ETH as of June 30, with nearly all of it staked to generate yield [11].

Glassnode data showed that as of August 13, short-term Ethereum holders realized $553 million in daily gains, far outpacing long-term holders [12]. The “7 Siblings” whale group recently sold 19,461 ETH for $88.2 million, marking their first major liquidation since accumulating 1.21 million ETH [13]. Despite mixed reactions, Ethereum is showing signs of bullish momentum. Arthur Hayes, former CEO of BitMEX, has reversed his bearish stance and initiated a significant buying spree, accumulating 1,500 ETH and DeFi tokens [14].

Technically, Ethereum has consolidated around $4,439 after breaking above previous cycle highs near $4,800. The critical support level at $4,367 must hold to validate the breakout above all-time highs [15]. A liquidity heatmap analysis reveals significant concentration above current price levels, particularly in the $4,800–$5,200 range, where short positions and stop losses create potential for a short squeeze [16]. The institutional buying during retail capitulation reflects a classic shift from weak hands to strong hands, often preceding major price advances.

If Ethereum holds the $4,225 support level during any pullbacks, it could trigger a significant upward move toward the $5,200–$5,400 range [17].

Sources:

[1] https://cryptonews.com/news/bitmine-and-mystery-whale-buy-882m-in-ethereum-while-retail-panic-sell/