Galaxy Digital snapped up 108K ETH via OTC, staking a chunk through Liquid Collective, signaling deep, strategic accumulation.
BlackRock quietly amassed 1.6M ETH through 400 wallets, with no sell-off, hinting at a long-term institutional play.
Over $700M in ETH flowed from top exchanges to OTC desks, with zero outflows, clear signs of institutional positioning.
A massive Ethereum purchase totaling 108,278 ETH, worth $283 million, was executed via OTC channels in the past 12 hours, igniting speculation across crypto markets. The move, involving Galaxy Digital and multiple major exchanges, comes amid growing signs of deep institutional ETH accumulation.
Galaxy Digital Leads Whale Accumulation
According to a post by Wu Blockchain citing Lookonchain, Galaxy Digital OTC withdrew 89,000 ETH from exchanges and transferred 108,278 ETH to wallet 0x0b26. This wallet now holds 139,476 ETH, worth $365 million. The transfers included inflows from 0xCd9e totaling 108,000 ETH across several transactions, showing a calculated build-up.
This wallet also sent 46,311 ETH to Liquid Collective for staking, while receiving 42,823 LSETH from the Null Address, marking mint activity. What this means is that a staking strategy is unfolding alongside OTC accumulation, likely aiming for long-term yield.
BlackRock Deepens Ethereum Position
At the same time, institutional interest is rising sharply. According to Arkham, BlackRock purchased $50 million in ETH on June 2 via three Coinbase Prime transfers. These were routed to a central wallet linked to 400 smaller addresses used for inflows, 95% of which were single-use.
From April 2024 to May 2025, this wallet’s balance surged from zero to 1.6 million ETH. No major withdrawals were recorded, confirming a buy-and-hold posture. Many believe BlackRock is positioning ETH as a second core crypto asset next to Bitcoin, potentially in anticipation of ETH ETF flows or staking returns.
Central Exchanges Fuel OTC Pipelines
Over $700 million in ETH moved through exchanges and OTC desks in 10 hours. Binance, Bitstamp, OKX, and Coinbase transferred over 110,000 ETH into Galaxy Digital OTC. These reports include one-time transfers from Coinbase of 9,500, 4,000, and 7,500 ETH, all within hours. This shows that centralized exchanges are now primary feeders for OTC accumulation, with no recorded reverse flows—a clear signal of long-term intent.
Technical Setup and ETF Flows Add Momentum
According to Bitcoinsensus, ETH has broken out of a long downtrend with a bullish engulfing candle and is now forming a bull flag near $2,637. This signals either continued strength or a major breakout toward $3,500.
ETH ETFs also saw $109.5 million in net inflows. The crypto community is witnessing what could be a coordinated institutional push, as analysts forecast $10,000 ETH on institutional money alone.
The post BlackRock and Galaxy Accumulate $700M in ETH as Exchanges Drain, Staking Surges appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
