Bitcoin News: $11B Bitcoin Whale Rotates Into $4B Ethereum Bet, Surpassing SharpLink Holdings
Key Takeaways:A mega Bitcoin whale shifted $215M from BTC into ETH, raising total Ether holdings to 886,371 ETH ($4B).The whale now surpasses SharpLink’s $3.5B ETH treasury, making it the world’s second-largest private Ethereum holder after Bitmine Immersion.Analysts see the move as part of a broader institutional rotation into Ethereum, boosted by ETF inflows and corporate treasuries.A mysterious Bitcoin whale worth over $11 billion has intensified a massive rotation into Ethereum, becoming one of the largest individual ETH holders and surpassing the corporate treasury holdings of SharpLink Gaming.Blockchain data tracked by Lookonchain shows the whale sold $215 million in BTC to purchase an equivalent amount of spot Ether on decentralized exchange Hyperliquid, bringing total ETH holdings to 886,371 ETH worth $4 billion.From Bitcoin to Ether: A Billion-Dollar RotationThe whale began shifting funds on Aug. 21, offloading $2.59 billion in Bitcoin to acquire $2.2 billion in Ether and open a $577 million ETH perpetual long position, according to Cointelegraph reporting.Last week, the investor closed $450 million of the ETH perpetual long at an average price of $4,735, securing $33 million in profit, before accumulating an additional $108 million in spot ETH.The strategy has spurred other whales into action — with at least nine large addresses acquiring $456 million worth of ETH in a single day, on Aug. 27.Whale Holdings Eclipse Corporate TreasuriesWith $4 billion in Ether, the whale’s portfolio is now larger than SharpLink Gaming’s $3.5 billion ETH treasury (797,000 ETH), making it the second-largest Ethereum holder outside of Bitmine Immersion.Bitmine Immersion still leads with 1.8 million ETH ($8B), according to strategicethereserve.xyz data.At the same time, spot ETH ETFs have recorded over $1.8 billion in inflows over the past five trading days, further signaling rising institutional demand, according to Cointelegraph.Institutions Broaden Beyond BitcoinAnalysts say the whale’s move reflects a wider market shift.“Institutions are clearly broadening their scope beyond Bitcoin,” said Iliya Kalchev, dispatch analyst at Nexo, adding that while short-term price action depends on macro data, “structural drivers of adoption, institutional inflows, and tokenized finance remain intact.”