TL;DR

FTX staked $79M ETH after withdrawing $75M, signaling renewed activity from major crypto players. BlackRock now holds 2.5% of all ETH, adding $375M more through its growing Ethereum ETF. Eleven new whale wallets added 722K ETH since July, with most already staked for the long term. Ethereum ETFs saw $5.41B in July inflows, beating combined gains from the last eleven months.

FTX Moves ETH From Bybit, Then Stakes It

On-chain data tracked by Lookonchain shows that FTX and Alameda Research staked 20,736 ETH, valued at around $79 million, within the past few hours. The move follows a previous withdrawal of 21,650 ETH from crypto exchange Bybit. That withdrawal, carried out between December 17, 2024, and January 9, 2025, totaled $75.3 million at an average price of $3,478 per ETH.

FTX/Alameda staked 20,736 $ETH($79M) an hour ago.

Between Dec 17, 2024, and Jan 9, 2025, FTX/Alameda withdrew 21,650 $ETH($75.3M) from #Bybit at an average price of $3,478.https://t.co/RBSW7DEx21 pic.twitter.com/5E0ku6WGni

At the time of writing, ETH trades at $3,860. The price has increased 1% in the last 24 hours and 7% over the past seven days. These ETH transfers and staking actions add to a trend of growing market activity around the asset.

BlackRock and Other Firms Continue ETH Accumulation

BlackRock added $375 million in ETH to its holdings this week. The firm now controls about 2.5% of Ethereum’s total circulating supply, which translates to over $11.4 billion in ETH, based on current prices. 

In addition, the iShares Ethereum ETF, launched in 2024, has now acquired more than 3 million ETH, according to Nate Geracis recent post. Since July 12 alone, it has added another 1 million ETH.

BLACKROCK BOUGHT $375M OF ETH THIS WEEK

THEY CURRENTLY HOLD 2.46% OF THE ETH SUPPLY WORTH $11.32B

THE LARGEST ASSET MANAGER IN THE WORLD IS BUYING $ETH pic.twitter.com/BksJOvUjdQ

The Ether Machine, a company focused on ETH accumulation, bought 15,000 ETH this week for $56.9 million. This brings its total ETH holdings to over 334,000. 

Meanwhile, it also confirmed that additional capital remains available for further ETH purchases. With this latest transaction, The Ether Machine now holds more ETH than the Ethereum Foundation.

SharpLink, a Nasdaq-listed company, made yet another purchase earlier today, adding 11,359 ETH, which brings its total to 449,276 (worth $1.73 billion). A significant portion of the newly acquired ETH has already been staked.

Whale Wallets Enter the Market With Billions in ETH

Eleven new wallets have acquired a total of 722,152 ETH, worth $2.77 billion, since July 9. Three of those wallets added 73,821 ETH, worth $283 million, in the past 24 hours. The data was tracked by Crypto Rover.

BREAKING:

WHALES KEEP BUYING MORE $ETH.

3 FRESH WALLETS JUST ACCUMULATED ANOTHER 73,821 $ETH ($283M).

SINCE JULY 9, A TOTAL OF 11 FRESH WALLETS HAVE ACCUMULATED 722,152 $ETH ($2.77B). pic.twitter.com/rnywoQdg07

Most of these new wallets are staking their ETH. This reduces the circulating supply and signals long-hold strategies. These new holders are joining a broader trend of long-term ETH accumulation by large entities.

ETF Inflows Surge in July

As we recently reported, Ethereum ETFs brought in $5.41 billion in net inflows during July. That figure is higher than the $4.21 billion combined inflows from the 11 previous months. Since their launch in July 2024, ETH ETFs have received $9.62 billion.

Earlier in the year, flows were more uneven. The first quarter of 2025 saw low inflows and a brief outflow in March. By contrast, November and December 2024 saw stronger interest, with inflows of $1.05 billion and $2.08 billion, respectively.