A Bitcoin whale is accumulating billions in Ether, surpassing SharpLink’s holdings, indicating large investors shifting to altcoins. The whale sold $215 million in Bitcoin to buy $216 million in Ether on Hyperliquid, now holding $4 billion in Ether. This rotation is driving corporate accumulation and market interest in Ether.

The $11 billion Bitcoin whale started buying Ether in August, selling $2.59 billion in Bitcoin for $2.2 billion in Ether and a $577 million Ether long position. Recently, the whale closed a $450 million long position for profit and acquired $108 million in spot Ether. Other whales followed suit.

Corporate Ether holdings are now being eclipsed by individual whales, with the $4 billion Ether holdings of the mysterious whale exceeding SharpLink Gaming’s $3.5 billion worth. Despite this, the whale’s holdings are still around 50% of Bitmine Immersion’s $8 billion Ether stash.

In addition to whale activity, spot Ether ETFs have acquired over $1.8 billion worth of Ether in the last five trading days. Institutions are diversifying beyond Bitcoin, with short-term crypto moves tied to macro releases, but adoption, institutional inflows, and tokenized finance driving long-term growth.

Read more at Cointelegraph: $11B Bitcoin whale amasses $4B Ether, surpasses SharpLink’s $3.5B holdings