Ethereum whale buys 8,000 ETH after Grayscale win

An Ethereum whale bought 8,000 ETH shortly after the Grayscale victory. Equivalent value: about US$14 million.

An unknown investor has bought back Ethereum with an equivalent value of nearly US$14 million. This reports the on-chain analytics platform "Lookonchain" at X (formerly Twitter).

In total, the Ethereum whale bought 8,000 ETH at an average price of $1,708 dollars. Overall, the price of the cryptocurrency rose 4%.

The exact reasons for the purchase are so far unclear.

Speculation about the adoption of an Ethereum Spot ETF in the near future would be possible. Grayscale's victory over the Securities and Exchange Commission could serve as a catalyst here.

Indeed, well-known companies such as Grayscale, VanEck, Valkyrie and others have filed applications for an Ethereum ETF with the SEC. The decision on a possible approval will be taken in October.