This week, Ethereum's price surge has returned one of its most famous founders to the billionaire club, based on on-chain valuation. The market is rapidly volatile, and so are the headline writers, but the numbers behind this noise are very clear.

According to Arkham, wallets linked to Vitalik Buterin currently hold about 240,042 ETH, giving him an on-chain value of nearly $1.04 billion at recent prices.

These wallets also display smaller token holdings such as AETHWETH, White, Moodeng, and WETH. This is a snapshot of the value held displayed on the public ledger, not a full disclosure of any off-chain assets or tax obligations.

According to reports, Ether surged by up to 6.20% on Saturday and surpassed the $4,300 mark for the first time since December 2024. Nansen's data indicated the price of Ether at around $4,250 at the time of reporting.

Traders indicate that a Bitcoin price increase to $4,500 would put approximately $1.35 billion worth of short positions at risk, according to CoinGlass, which is raising speculation about the possibility of a short squeeze. Such rapid fluctuations could trigger large liquidations and amplify volatility.

ETFs and Cash Flows Driving Demand

According to Arkham, ETF activity has poured $461 million into ETH compared to $404 million into BTC. Over five trading days, U.S. spot Ether ETFs recorded a net inflow of $326 million, compared to $253.2 million into Bitcoin, based on Farside data.

These steady inflows add an additional channel of demand for spot ETH and help explain why institutions and traders are closely monitoring price movements.

The History of Wealth On-Chain

Vitalik first crossed the billionaire threshold online at age 27, in May 2021, when Ether was trading above $3,000 and he held about 333,500 ETH — which was worth about $1.029 billion at the time.

This price increase follows ETH rising from around $700 at the beginning of 2021 to much higher levels by the end of that year. The difference now is that this figure is again a result of the amount of tokens held and the higher ETH price.

In a recent interview, Buterin warned about the over-reliance on large treasury bonds and borrowing within the ecosystem. He stated that if treasury bonds cause significant damage to ETH, it is due to some players having turned the market into an overly leveraged market.

That caution from the founder is significant for investors weighing long-term structural risks against short-term price volatility.