FameEX Hot Topics | BTC Whale’s $3.8B ETH Position Seen as Market Maturity Sign

Onchain data reveals that the “Bitcoin OG” whale, which began rotating its massive $11.4 billion fortune into Ethereum (ETH) earlier in August, has continued adding to its holdings. Over the weekend, the whale’s accumulation of ETH reached $3.8 billion, signaling a notable shift in strategy among the largest market participants.

According to blockchain analytics firm Lookonchain, the whale’s most recent purchase involved selling 4,000 Bitcoin valued at $435 million and exchanging it for 96,859 ETH within just 12 hours. The whale was first spotted on August 25, when it was reported to control 100,784 Bitcoin, then worth over $11.4 billion. This makes the entity one of the most influential whales to diversify away from Bitcoin into ETH, highlighting a changing narrative in the digital asset landscape.

This “Bitcoin OG” is not alone, as other whales have also begun rotating holdings from Bitcoin into Ethereum. Market watchers view this as a sign of maturing investor behavior, where long-term holders are diversifying in response to shifting regulatory winds in the United States. Henrik Andersson, CIO of Apollo Crypto, noted that while the motivations of individual whales remain uncertain, the pattern fits historical cycles in which capital flows first from Bitcoin into ETH, and then into altcoins.

Andersson emphasized that Ethereum’s momentum has been gaining traction. On August 24, ETH hit a new all-time high above $4,946 before settling at $4,389, down 1.2% in the past 24 hours. He added that Bitcoin has been consolidating sideways for months, while Ethereum has benefited from strong ETF inflows, particularly in August. “ETF flows have heavily favored Ethereum, and we believe this trend is likely to continue in the medium term,” Andersson said.

For many OG whales, Bitcoin is increasingly treated as “digital gold,” a long-term store of value. By contrast, ETH offers not only capital appreciation but also staking yield and exposure to the broader smart contract economy. Andersson further suggested that altcoins beyond Ethereum could attract whale inflows, with current movements resembling a “classic altseason rotation.” In such phases, Bitcoin remains strong, but capital naturally shifts into ETH and selects altcoins as investors search for relative value.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.