794 Million in ETH in 20 Hours – What’s Happening?

Popular blockchain tracking platform Whale Alert, which tracks down large cryptocurrency transfers, has spotted several massive ETH chunks that have been moved in the last 20 hours.

More than half a billion worth of U.S. dollars has been shoveled by anonymous whales, while Ethereum ETFs continue to attract millions in inflows.

794 million Ethereum on move

The aforementioned data source has detected massive Ethereum transfers, one of which could be called a huge one, and two which could be considered just very large ones. The biggest transfer on this list carried 143,379 ETH – the equivalent of $470,075,827.

The “just very large ones” moved 49,115 and 39,067 ETH, which are equal to $161,033,875 and $128,938,323. In total, the four transfers, whose details were shared by Whale Alert, shoveled slightly more than $794 million worth of Ethereum.

A total of 49,115 ETH were moved from Genesis Trading to an anonymous wallet. Each of the rest of these massive ETH transfers were made from one unknown wallet to another.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 143,379 #ETH (470,075,827 USD) transferred from unknown wallet to unknown new wallethttps://t.co/5069N7iEkJ

— Whale Alert (@whale_alert) July 30, 2024

BlackRock ETH ETF sees $118 million inflow

Meanwhile, the recently launched spot Ethereum exchange-traded funds continue to see inflows from investors. All of them, that is, except for Grayscale – this company’s ETFs (based on both Bitcoin and Ethereum spot prices) continue to see tremendous withdrawals.

The largest inflow was witnessed by the BlackRock’s ETHA ETF – it sucked in roughly $118 million. The gap between it and the second largest ETF deposit was massive – Fidelity’s FETH received $16.4 million and Grayscale Mini ETF got $12.4 million. In the meantime, the major Ethereum ETF of Grayscale (ETHE) lost $110 million.

As for BlackRock’s Bitcoin ETF IBIT on Tuesday, it was the only spot ETF that saw any inflows at all – $74.9 million, according to the analytics X account @spotonchain.

🚨 US #ETF 30 JUL: 🔴$18M to $BTC and 🟢$34M to $ETH

🌟 BTC ETF UPDATE (final): -$18M

• The net flow turned slightly negative after 4 days of being positive.

• #BlackRock (IBIT) remains the only BTC ETF that had inflows in the past 2 days.

🌟 ETH ETF UPDATE (final): +$34M… pic.twitter.com/AK1p6O40EB

— Spot On Chain (@spotonchain) July 31, 2024

Despite the successful spot Ethereum ETF approval by the SEC recently, it has hardly impacted the Ethereum price. At the time of writing, ETH is changing hands at $3,313 after facing a 12% plunge last week. Since then, Ethereum has managed to recover 6.64% from that loss.

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