Institutions and Whales Ramp Up Ether Accumulation, Bitmine’s Holdings Hit $5.7 Billion

Institutional demand for Ether (ETH) continues to accelerate, with two entities acquiring a combined $882 million worth of the cryptocurrency in recent days. Leading the wave of purchases is BitMine Immersion Technology , a publicly listed Bitcoin mining firm. In a matter of hours, the company acquired 106,485 ETH, valued at $470.5 million. These acquisitions, tracked by blockchain analytics firm Lookonchain, bring BitMine’s total holdings to 1.29 million ETH—worth approximately $5.75 billion. The transactions reveal that BitMine relied on large over-the-counter deals and transfers from major intermediaries, including Galaxy Digital, FalconX, and BitGo. Whale Activity Adds to Market Momentum Adding to the surge, an unidentified whale accumulated 92,899 ETH—around $412 million—over a four-day period. On-chain data shows the entity created three new wallets before withdrawing funds from Kraken, indicating a strategy to secure assets for long-term storage. This aligns with a broader trend of whales aggressively accumulating Ether during its recent rally. Last week, one entity purchased $1.3 billion worth of ETH across multiple wallets, setting a new benchmark for whale accumulation. Corporate Capital Raises Highlight Market Confidence The institutional push has been supported by major fundraising efforts. BitMine Immersion Technology is in the process of raising $24.5 billion through an at-the-market stock offering, while SharpLink announced the completion of a $389 million raise via common shares. These developments reflect the growing acceptance of Ether as a corporate treasury asset, following a similar trajectory once seen with Bitcoin. Banks Boost Long-Term ETH Forecasts The intensified institutional activity has prompted traditional financial institutions to raise their projections for Ether’s price. Standard Chartered recently lifted its 2025 target from $4,000 to $7,500. The bank also provided a long-term roadmap, forecasting ETH to hit $12,000 by 2026, $18,000 by 2027, and $25,000 by 2028. Analysts cited stronger institutional adoption and stablecoin growth under clearer U.S. regulations as primary drivers. Early Profit-Taking Emerges Despite this bullish momentum, signs of profit-taking have started to appear. The whale group known as “7 Siblings” sold 19,461 ETH—worth $88.2 million—within a single day at an average price of $4,532. The Ethereum Foundation also took part, selling 2,795 ETH worth approximately $12.7 million through two transactions earlier in the week. While these moves signal caution at higher price levels, the broader institutional inflows suggest long-term confidence in Ether’s role as a key digital asset.