Ethereum Whale Selling Outweighed by Institutional Buying as BlackRock Adds $240M

A key Ethereum whale has continued to sell its holdings, but institutional buying is currently outweighing this selling pressure. F2Pool co-founder Wang Chun sold another 6,609 ETH tokens, worth around $16.63 million at the time of sale, in a trend that suggests early holders are taking profit as the price rises.

Meanwhile, BlackRock added close to $240 million combined in BTC and ETH to its IBIT, ETHA, and ETHB ETF wallets, reinforcing the idea that institutional demand has picked back up. This is supported by GSR's data showing weekly net flows into U.S. spot crypto ETFs turning from -$400 million to +$2.5 billion, the strongest reading so far this year.

A separate report highlighted a Hyperliquid trader who made nearly $9 million in profit from long ETH and BTC positions. This suggests that some traders are confident in the current uptrend for both major assets.