As the launch of the ETH ETF approaches, institutional interest in Ethereum is expected to increase. Recent on-chain reports show significant accumulation of Ethereum ecosystem tokens by whales and institutions.
For example, aavebank.eth recently withdrew a large amount of tokens from Binance, including 21,027 $AAVE ($1.98M), 205,493 $UNI ($1.62M), 446 $ETH ($1.37M), 102,313 $LINK ($1.28M), and 20,797 $ENS ($534K) just three hours ago.
In another instance, Arca’s sub-wallet with a total balance of approximately $14.5M withdrew assets worth $8.12M from Binance in the past 10 hours. These assets included 507,996 $PENDLE ($1.83M), 1,081,122 $LDO ($1.72M), and 8,698 $BNB ($4.56M).
These movements suggest that large investors are preparing for the expected increase in institutional interest following the ETH ETF launch. The accumulation of various Ethereum ecosystem tokens reflects confidence in Ethereum’s growth and potential in the coming months.
Please note that this is not trading or investment advice. It’s always important to conduct your own research before investing in cryptocurrencies or any other services.