Ethereum Whales Accumulate 1.49 Million ETH in 30 Days Amid Institutional Demand Surge

Ethereum whales have been actively accumulating Ether (ETH), with significant purchases observed in recent weeks. On June 15, the net position change of Ethereum wallets holding between 1,000 and 10,000 ETH jumped by over 818,410 ETH, marking the highest daily inflow for this cohort in more than six years. These addresses, often associated with funds, early adopters, and whales, were collectively holding more than 16 million ETH on the same day, compared to 11.87 million ETH almost a year ago.

The accumulation spike coincides with a surge in institutional demand via Ether investment funds. These ETH-focused funds attracted significant inflows, pushing year-to-date net inflows to substantial levels. The accumulation trend is not isolated to this single whale. Over the past 30 days, Ethereum whales and sharks have collectively accumulated approximately 1.49 million ETH. This accumulation has occurred despite a slight pullback in retail interest, suggesting that institutional investors are more confident in the long-term prospects of Ethereum. The data further reveals that there are currently a significant number of wallets holding between 1,000 and 100,000 ETH, highlighting the concentration of ETH holdings among a select group of investors.

One particular whale, who had been inactive for a decade, recently reactivated a significant amount of ETH. This whale moved a substantial amount of ETH, realizing a significant return on their initial investment from the Genesis ICO. This move underscores the long-term holding strategy of some whales, who have seen substantial gains over extended periods. Additionally, another whale sold a significant amount in ETH after depositing a large amount of ETH to an exchange, indicating a strategic rebalancing of their portfolio.

The accumulation by whales is not without its risks. The market has seen instances where whales have sold large amounts of ETH. However, these sales are often part of a broader strategy to manage risk and diversify holdings, as seen in the swap of a majority of ETH for a stablecoin.

Despite the occasional sell-offs, the overall trend points to a bullish outlook among Ethereum whales. The accumulation of 1.49 million ETH in a month suggests that these investors are confident in the future of Ethereum, potentially anticipating a breakout in price. This confidence is further bolstered by the reclaimed historical support level, which indicates a stable price floor for ETH.

Ether’s price has risen significantly in the past two months, led by the optimism around Ethereum’s upgrade and the restructuring of its foundation’s core team, but it remains trapped inside a multimonth consolidation channel. For analysts, the price action is similar to what followed a significant price rally in 2017. In 2016–2017, ETH ranged inside a specific channel after the DAO hack and Ethereum Classic split. The market lacked conviction, but once the range broke, ETH surged to over $1,500 in under a year thanks to the ICO boom.

In 2024–2025, ETH is again consolidating, this time inside a channel defined by specific price points, while holding above key support levels. The drivers are different, but the setup is similar: ETH is coiling below resistance, just as before its last major breakout. That puts its short-term ETH price target at around $4,000, aligning with the channel’s upper trendline. Multiple analysts have signaled the same upside target for Ethereum in the past. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.