Institutional investors have been at the heart of the crypto debate in recent weeks, with the emerging Treasury ministry becoming the town’s story. Ethereum is one of the cryptocurrencies where Behind only Bitcoin is accumulated by new market participants (mainly institutional players). Interestingly, the latest on-chain data shows that investors in this related class have bolstered their purchases in recent weeks, buying billions of Ethereum tokens in the last 30 days.
Is there an institution behind the recent price surge for Ethereum?
In a recent post on the X platform, Embercn revealed that multiple unknown whales or institutions have accumulated 1.035 million ETKEN (worth around $416.7 billion) since July 10, 2025. According to the on-chain analytics company, the purchase occurred through Kraken, Falcon, Galaxy and Coinbin exchanges or in-facility trading platforms.
In an X post, Embercn assumed that most of the addresses that collected these substantial amounts of Ethereum tokens would likely be owned by the agency that builds ETH reserves or by the publicly-based US-based companies. However, the analysis excluded SBET (Sharplink Game) as the addresses are known and identifiable.
Sharplink’s Ethereum Accumulation Spree has been well documented over the past month, earning hundreds of thousands of ether tokens in the course of a month. As reported by , the marketing company expects to expand its ETH-focused Treasury Department to up to $5 billion.
Source: @EmberCN on X
This accumulation trend correlates with the duration of positive price action, with Ethereum exceeding $2,600 to $4,000. This has increased by 45% over the past 30 days. Nevertheless, it is worth noting that the average acquisition price for purchases from these institutions is locked at around $3,546.
At the time of this writing, the Ethereum token is valued at around $4,260, reflecting an increase of over 5% over the past 24 hours. Coingecko’s data shows that the second-largest cryptocurrency has increased by more than 25% in the last seven days.
Arthur Hayes re-recognizes ETH tokens at a higher price
Bitmex co-founder Arthur Hayes has revealed that he has repurchased all of his Ethereum tokens after a major sale last week. Hayes sold 2,373 ETH tokens (equivalent to $8.32 million at the time of sale) for around $3,507, according to on-chain data.
ETH’s prices have since risen more than 20%, urging Bitmex co-founders to “undo” his deal. On Saturday, August 9th, Hayes purchased a fresh Ethereum token for around $4,150 using USDC worth $10.5 million.
Hayes said in X:
I had to buy it all, would you please forgive me @fundstrat? (See Tom Lee, Chief Investment Officer at Fundstrat Capital and Research Officer at FS Insight). I swear my little finger, I will never make any profit again.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
ISTOCK featured images, TradingView chart
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