Bitcoin Whale Sells $433M in BTC and Buys Ethereum Amid Price Surge

TLDR

• A Bitcoin whale sold 4,000 BTC worth $433M and purchased 96,859 ETH on August 31.
• The wallet now holds over 800,000 ETH, most of it staked for passive yield.
• U.S. spot Ethereum ETFs recorded $3.87B in net inflows in August 2025.
• ETH hit an all-time high of $4,946 on August 24, gaining 24% in August.

A long-time Bitcoin holder has made headlines after shifting a large portion of their BTC holdings into Ethereum. The wallet, which has remained active for years, moved over $400 million worth of Bitcoin into ETH in two large transactions. The shift happens as institutional interest in Ethereum continues to grow, and analysts start watching for a possible price push toward $10,000.

Long-Time BTC Holder Moves $433M Into Ethereum

On Sunday, August 31, 2025, blockchain data showed that a large Bitcoin wallet sold 4,000 BTC worth around $433 million. The wallet then purchased 96,859 ETH using the proceeds. Lookonchain, an analytics firm, tracked the wallet’s activity, confirming that the sale was processed through a centralized exchange.

The same wallet had also sold 1,000 BTC the day before, valued at roughly $109 million. The purchases were made using Hyperliquid, a decentralized platform. This brings the wallet’s total Ethereum holdings to more than 800,000 ETH, now worth around $4 billion.

Despite the large Ethereum allocation, the wallet still holds over $5 billion in BTC. Most of the acquired ETH is now staked, suggesting the holder is seeking yield. Analysts noted the consistent move as a possible strategy to diversify into Ethereum amid changing market conditions.

More on-chain data suggests that this activity is not isolated. Other large Bitcoin holders have also been seen acquiring ETH in recent weeks.

Ethereum Demand Grows Among Institutions

Institutional investors have increased their exposure to Ethereum during August. Data shows that ETH reserves on centralized exchanges are declining, suggesting more ETH is being moved into long-term storage.

BlackRock’s Ethereum ETF (ETHA) has recently acquired about $968 million worth of ETH. According to SoSoValue, all U.S. spot Ethereum ETFs saw about $3.87 billion in net inflows in August alone. Since April 2025, these products have brought in over $11 billion in total inflows.

Public companies are also buying Ethereum. BitMine and SharpLink have added over 2.5 million ETH combined to their treasuries. This contrasts with Bitcoin ETFs, which recorded $751 million in net outflows during August.

Source: CryptoQuant

Ethereum’s ability to offer staking rewards has become a key reason for growing interest. Treasury departments and fund managers are now adjusting portfolios to include more ETH as part of a longer-term strategy.

The trend also reflects the use of Ethereum for smart contracts, which continues to support its value proposition. These changes suggest more capital may be flowing into the Ethereum ecosystem during the next phase of the market.

ETH Price Nears Key Resistance as Market Watches $10k Target

Ethereum’s price rose from a low of $4,340 to a high of $4,491 on August 31. Over the month of August, ETH gained around 24%, even after a 7% weekly dip.

On August 24, ETH hit a new all-time high of $4,946. Market data from TradingView shows Ethereum is on pace to close the month at its highest level since December 2021.

A well-followed analyst, Crypto Patel, stated, “If ETH clears the $5,000 resistance, we could see a run towards $10,000.” Traders are now watching for sustained buying and lower exchange supply to drive the next move.

The rising price and declining exchange balances show that both retail and institutional buyers are holding ETH. The activity of large holders shifting from BTC to ETH may also add pressure to the upside.

Market participants now await September with focus on volume, ETF activity, and any possible breakout past the $5,000 level.

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