Institutional demand for Ether continues to surge, with recent blockchain data showing two major buyers acquiring almost $882 million worth of ETH.
Leading this push is BitMine Immersion Technology, a public Bitcoin mining company, which purchased 106,485 Ether valued at approximately $470.5 million within the last 10 hours. This latest acquisition grows its total Ether holdings to about 1.3 million ETH, worth around $5.75 billion according to Lookonchain tracking.
Most of BitMine’s Ether was obtained through substantial over-the-counter transactions and direct transfers from established institutional platforms like Galaxy Digital, FalconX, and BitGo.
Adding to the market momentum, an anonymous whale discreetly gathered 92,899 ETH, roughly $412 million, over the course of four days. The whale created three new wallets before withdrawing these funds from Kraken, showing strategic planning for long-term Ether storage.
Further corporate interest is evident as BitMine Immersion Technology is in the process of raising $24.5 billion via an at-the-market stock offering, while SharpLink recently secured $389 million through common share capital raise.
Large holders, known as whales, have also been actively accumulating Ether. A newly identified investor acquired $1.3 billion in ETH this week across ten new wallets, surpassing ETF records set earlier.
In addition, Standard Chartered has raised its Ethereum price forecast to $7,500 for 2025 from a previous $4,000, anticipating accelerated institutional accumulation and stablecoin adoption fueled by recent US regulatory changes. The bank projects ETH prices to reach $12,000 in 2026, $18,000 in 2027, and $25,000 by 2028.
However, as Ether approaches new all-time highs, some profit-taking activity has emerged. For instance, the whale group known as 7 Siblings sold 19,461 ETH worth $88.2 million over 24 hours at an average price of $4,532 per ETH.
The Ethereum Foundation also executed the sale of 2,795 ETH valued at around $12.7 million in two separate transactions recently.
