Abraxas Capital Boosts Ethereum Holdings with $115.3M Purchase!!!
In a bold move, London-based Abraxas Capital has acquired 46,295 ETH worth $115.3 million, pushing their total Ethereum holdings to 350,703 ETH, valued at approximately $837 million as of May 20, 2025. This latest purchase, reported after a brief pause in their aggressive accumulation strategy post-Ethereum’s Pectra upgrade, underscores the firm’s bullish stance on ETH’s future in DeFi and layer-2 scaling solutions.
Abraxas has been strategically shifting its portfolio, reducing Bitcoin exposure by selling 1,966 BTC (worth ~$150M) while retaining 983 BTC valued at $98M. Their Ethereum investments, with an average purchase price of $2,386, have already yielded $77M in unrealized profits as of May 17, 2025. This MicroStrategy-like approach to ETH has sparked buzz on platforms like Binance Square, where crypto enthusiasts are debating the firm’s confidence in Ethereum’s long-term potential.
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