Sharplink is making a bold move to strengthen the Ethereum Treasury Department. According to LookonChain data, Sharplink has transferred $145 million in USDC to Galaxy Digital’s OTC wallet.
Bitmine Immersion recently announced a massive purchase of 566,776 ETH, over $2 billion. Currently, it has surpassed Sharplink’s ETH stash and has achieved the highest position among corporate ETH owners.
A total of 2.31 million ETH, worth $8.65 billion, is held in strategic reserves by 63 participants, accounting for 1.92% of Ethereum’s total supply. The Ethereum Treasury Department has surged from $23 million to $8.6 billion in just a few months. Bitmine and Sharplink are leading the charges, supported by Tom Lee and Joseph Lubin of Crypto Heavyweights. ETH Treasury is authentic and accelerates quickly.
The influx of Ethereum ETFs has also been doing great lately. BlackRock’s Ethereum ETF (ETHA) is in tears, adding $430 million worth of 120K ETH on Friday alone, pushing its total stock to about 3 million ETH. Spot ETH ETFs have posted a significant 16 consecutive days of inflows and a significant outcome of Bitcoin ETFs.
Whale and fresh wallets promote ETH surges
The fresh wallet is in the middle of purchasing as 42,788 ETH, worth $159 million, was added today alone. Since July 9, eight new wallets have scooped up 583,248 massive ETH worth $2.17 billion. Analyst Ali Martinez also notes that whales have been piled up over the past two weeks as the whales snapped 113 million ETH worth an astounding $4.18 billion.
He also shared that 170 new whales, holding over 10,000 Ethereum, have joined the network over the past month. This is a strong indication of growing institutional interest.
170 new whales, holding over 10,000 Ethereum $ETH, have joined the network over the past month. This is a strong indication of growing institutional interest! pic.twitter.com/q06hrhx9ie
– Ali (@Ali_Charts) July 26, 2025
Is $5,000 next?
The supply held by Ethereum whales is soaking, but prices continue to rise. This is the most important shift since June 2025. Unlike the February pump, this trend shows healthier and sustainable growth, not pumps by a few major players.
Ethereum rose 24% this week and 56% this month. Influx of strong institutions, with major Treasury purchasing and recording demand for ETFs, analysts note that $5,000 isn’t too far away if TH supports and supports zones between $3,800 and $4,000.