Matrixport Withdraws $130M in ETH from Exchanges in 48 Hours

On July 4, 2025, a wallet suspected to be linked to Matrixport withdrew 10,000 ETH, valued at approximately $25.97 million, from Binance. This transaction was part of a larger series of withdrawals totaling 50,734 ETH, equivalent to roughly $130 million, from both Binance and OKX over a span of 48 hours.

This sequence of large-scale withdrawals by a single wallet indicates a significant shift in how institutional players are managing their Ethereum holdings. The moves hint at institutional portfolio reshuffling or a DeFi strategy, suggesting that Matrixport may be repositioning its assets for higher returns or safer holding in response to current market trends.

These transactions likely represent a move from centralized exchanges to more secure, long-term storage solutions such as cold wallets or decentralized finance platforms. Matrixport, known for offering a range of institutional crypto services including custody, yield generation, and structured products, could be leveraging this strategy to optimize its asset management.

Large withdrawals from exchanges typically reduce the circulating supply of a token like ETH, which could create upward pressure on its price, especially when combined with rising demand from spot ETFs and other institutional channels. This withdrawal could reflect confidence in ETH’s long-term value, a desire to stake Ethereum for yield, or preparation for deploying capital into DeFi protocols.

The broader crypto market has seen increasing activity from major financial players. This move mirrors similar actions by other firms, suggesting a broader institutional strategy of accumulating ETH ahead of potential price growth. The timing aligns with positive developments like ETF inflows and technical bullish signals such as Ethereum’s recent “golden cross.”