On-chain data shows that a super whale known as "Bitcoin OG" has recently exchanged some BTC for Ethereum (ETH), currently holding ETH worth up to $3.8 billion. Analysts point out that this move not only reflects the trend of capital rotation but also signifies that the crypto market is moving towards maturity and diversification. With the US regulatory policies turning friendly and the influx of funds into ETH ETFs increasing, the allocation strategies of institutions and long-term holders are quietly changing.
BTC Whale Holdings ETH Scale Hits New High
According to data from the on-chain monitoring platform Lookonchain, this Bitcoin whale has started converting part of its BTC worth $11.4 billion into ETH since August. Just over the past weekend, it sold 4,000 BTC (approximately $435 million) in exchange for 96,859 ETH.
On September 1st, the Whale deposited 1,000 BTC into a decentralized exchange, and the market generally speculates that it will continue to increase its holdings of ETH. The actions of this giant whale have brought its ETH holdings value to 3.8 billion USD, making it one of the largest single BTC → ETH capital rotation cases observed on-chain.
The trend of ETH investment diversification accelerates
Henrik Andersson, the Chief Investment Officer of Apollo Crypto, stated that while it is impossible to determine the specific intentions of a single whale, historically the crypto market tends to exhibit a rotation pattern of "BTC → ETH → altcoins."
He pointed out that the implementation of the U.S. "GENIUS Act" and pro-crypto regulatory policies has provided additional appeal for ETH. This act is the first federal law in the U.S. aimed at payment stablecoins, and since its signing in July, the price of ETH has risen steadily, reaching an all-time high of $4,946 on August 24.
Currently, the ETH price is around $4,389, which has dropped 1.2% from its high point. However, the ETF capital flow indicates that in August, the funds were clearly leaning towards ETH, showing that institutional investors have an optimistic outlook on its mid-term performance.
Analyst: ETH has become a core holding
Ryan McMillin, Chief Investment Officer of Merkle Tree Capital, believes that long-term Bitcoin holders turning to ETH is not a short-term speculation, but rather an acknowledgment of market maturation.
He explained: "For OG whales, BTC is digital gold, while ETH provides yields through staking and connects a broader ecosystem of smart contracts and DeFi. Allocating ETH acknowledges that digital assets have entered an era of multi-protocol and multi-application."
McMillin added that most original Whales still hold BTC, but ETH has shifted from being a "speculative target" to a "core asset allocation." This shift suggests that the proportion of ETH in institutional portfolios may continue to rise in the future.
The season of altcoins may begin
As ETH gains momentum, some analysts predict that the capital rotation may further spread to other high-potential public chain coins. McMillin pointed out that if the inflow of funds into ETH continues, projects like Solana (SOL), which have consumer applications and DeFi appeal, may become the next beneficiaries.
This classic rotation pattern of "BTC → ETH → high Beta altcoins" has appeared multiple times during the mid-stage of a bull market, typically accompanied by a warming market sentiment and increased capital liquidity.
Conclusion
Bitcoin whales are shifting billions of dollars into ETH, which is not just a simple asset adjustment but a reflection of market maturation and diversification. With the friendly regulatory policies, the inflow of ETH ETF funds, and the advantages of staking yields becoming more prominent, ETH is gradually becoming one of the core allocations for institutions and long-term investors. Investors should closely monitor on-chain fund flows and ETF fund dynamics, as these signals often indicate the next stage of market trends.
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Bitcoin whale dumps $3.8 billion to buy ETH! Analyst: The market has entered an era of maturity and diversification.
On-chain data shows that a super whale known as "Bitcoin OG" has recently exchanged some BTC for Ethereum (ETH), currently holding ETH worth up to $3.8 billion. Analysts point out that this move not only reflects the trend of capital rotation but also signifies that the crypto market is moving towards maturity and diversification. With the US regulatory policies turning friendly and the influx of funds into ETH ETFs increasing, the allocation strategies of institutions and long-term holders are quietly changing.
BTC Whale Holdings ETH Scale Hits New High
According to data from the on-chain monitoring platform Lookonchain, this Bitcoin whale has started converting part of its BTC worth $11.4 billion into ETH since August. Just over the past weekend, it sold 4,000 BTC (approximately $435 million) in exchange for 96,859 ETH.
On September 1st, the Whale deposited 1,000 BTC into a decentralized exchange, and the market generally speculates that it will continue to increase its holdings of ETH. The actions of this giant whale have brought its ETH holdings value to 3.8 billion USD, making it one of the largest single BTC → ETH capital rotation cases observed on-chain.
The trend of ETH investment diversification accelerates
Henrik Andersson, the Chief Investment Officer of Apollo Crypto, stated that while it is impossible to determine the specific intentions of a single whale, historically the crypto market tends to exhibit a rotation pattern of "BTC → ETH → altcoins."
He pointed out that the implementation of the U.S. "GENIUS Act" and pro-crypto regulatory policies has provided additional appeal for ETH. This act is the first federal law in the U.S. aimed at payment stablecoins, and since its signing in July, the price of ETH has risen steadily, reaching an all-time high of $4,946 on August 24.
Currently, the ETH price is around $4,389, which has dropped 1.2% from its high point. However, the ETF capital flow indicates that in August, the funds were clearly leaning towards ETH, showing that institutional investors have an optimistic outlook on its mid-term performance.
Analyst: ETH has become a core holding
Ryan McMillin, Chief Investment Officer of Merkle Tree Capital, believes that long-term Bitcoin holders turning to ETH is not a short-term speculation, but rather an acknowledgment of market maturation.
He explained: "For OG whales, BTC is digital gold, while ETH provides yields through staking and connects a broader ecosystem of smart contracts and DeFi. Allocating ETH acknowledges that digital assets have entered an era of multi-protocol and multi-application."
McMillin added that most original Whales still hold BTC, but ETH has shifted from being a "speculative target" to a "core asset allocation." This shift suggests that the proportion of ETH in institutional portfolios may continue to rise in the future.
The season of altcoins may begin
As ETH gains momentum, some analysts predict that the capital rotation may further spread to other high-potential public chain coins. McMillin pointed out that if the inflow of funds into ETH continues, projects like Solana (SOL), which have consumer applications and DeFi appeal, may become the next beneficiaries.
This classic rotation pattern of "BTC → ETH → high Beta altcoins" has appeared multiple times during the mid-stage of a bull market, typically accompanied by a warming market sentiment and increased capital liquidity.
Conclusion
Bitcoin whales are shifting billions of dollars into ETH, which is not just a simple asset adjustment but a reflection of market maturation and diversification. With the friendly regulatory policies, the inflow of ETH ETF funds, and the advantages of staking yields becoming more prominent, ETH is gradually becoming one of the core allocations for institutions and long-term investors. Investors should closely monitor on-chain fund flows and ETF fund dynamics, as these signals often indicate the next stage of market trends.