Ethereum whales continue to increase their holdings, demonstrating institutional confidence!
#ETH巨鲸增持
The institutions behind these whales' behavior: ETH whales typically refer to addresses holding over 10,000 ETH. These addresses are often backed by exchanges, large custodians, or exchange-traded products (ETPs). Over the past month, the number of these "super whale" addresses has exceeded 200, indicating a significant influx of institutional funds into the ETH market and a direct reflection of their growing confidence in ETH.
Large transactions demonstrate long-term optimism: For example, an anonymous address acquired over 79,000 ETH through Galaxy Digital's over-the-counter (OTC) trading channel in just three days, representing over $280 million at current market capitalization. This large-scale, short-term, concentrated increase in holdings demonstrates that institutions are extremely optimistic about ETH's long-term value and believe it has significant potential for future appreciation, which is why they are willing to invest so much money.
ETF inflows reflect allocation demand: BlackRock's Ethereum Trust ETF saw $1.7 billion in inflows over the past ten trading days, with holdings increasing by 40% over the past month. ETFs are a common investment tool for institutional investors, and their continued significant inflows indicate that institutions are incorporating ETH into their portfolios and that allocation demand is increasing, indirectly reflecting institutional confidence in ETH.
Ecosystem value is driving institutional investment: As the core vehicle for decentralized finance (DeFi), ETH's value foundation continues to strengthen. In May 2025, ETH mainnet stablecoin trading volume reached $480 billion, accounting for 37% of total DeFi trading volume. Furthermore, its staking mechanism generates an annualized return of 3%-5%, and there are also liquidity dividends from the Layer 2 network. Recognizing the value of the ETH ecosystem and seeking to share in its development dividends, institutions are continuing to increase their holdings.
Favorable policies are boosting investment confidence: Policy support is also giving institutions greater confidence to increase their ETH holdings. The United States has promoted the standardized development of the crypto field, included Bitcoin in its strategic reserves, and clarified the regulatory framework for the US dollar stablecoin, indirectly strengthening ETH's position as on-chain financial infrastructure; Hong Kong has made a breakthrough in including ETH in the category of investment immigration assets, further enhancing its global reserve attributes. These have prompted institutions to increase their layout of ETH.