Kraken Sees Massive ETH Transfer as BlackRock Doubles Down on Ethereum

A major Ethereum ICO participant has liquidated 76,000 ETH ($3.66M) via Kraken after nearly a decade of holding, while BlackRock simultaneously expanded its ETH exposure by $20.1 million—highlighting divergent institutional approaches to Ethereum in May 2025.

Ethereum Whale Exits Position as BlackRock Expands ETH Holdings

A significant Ethereum ICO participant liquidated 76,000 ETH acquired during the 2015 initial offering, transferring $3.66 million worth to Kraken just before the news broke. The timing of this move—after nearly a decade of holding—has sparked speculation about the whale’s motives.

Meanwhile, BlackRock made a contrasting play, adding $20.1 million in ETH to its spot Ether ETF. The asset manager’s total Ethereum exposure now exceeds $74 million, complementing its $675 million Bitcoin ETF investments. These opposing moves highlight the divergent strategies of crypto’s early adopters and institutional entrants.

Early Ethereum Investor Offloads $140M in ETH After 9-Year Hold

An early Ethereum investor who participated in the 2015 initial coin offering has liquidated 76,000 ETH over the past two weeks, netting approximately $140 million. The coins, originally acquired at $0.31 each, were sold through multiple transactions to exchanges including Kraken, with individual transfers reaching as high as 6,000 ETH ($9.5 million).

The sell-off coincides with heightened activity among long-term holders and has contributed to downward pressure on Ethereum’s price. market observers are debating whether this signals a broader shift in sentiment or merely profit-taking after the asset’s historic rally.