Institutional funds have aggressively accumulated 1.26 million ETH over the past two months, with Standard Chartered predicting that corporate holdings will reach 10% of Ethereum's circulating supply.

Arkham on-chain data reveals significant movements of large cryptocurrency assets: a Whale received 12,000 ETH (approximately $45.47 million) from Galaxy Digital in nearly 2 hours, bringing the total Holdings of that Address to 113,000 ETH (approximately $427 million), with over 100,000 ETH (worth over $370 million) accumulated in the past 7 days. Meanwhile, Bitcoin Whales are showing strong accumulation momentum, with the seller risk ratio hitting a new low of 0.24, and the accumulation trend approaching 1.0. Anchorage Digital purchased 10,141 BTC (approximately $1.19 billion) in the last 9 hours. Corporate treasuries are becoming a new force in ETH, having swept up 1.26 million ETH (1% of Circulating Supply) in two months, with Standard Chartered predicting their Holdings potential could reach 10% of the Circulating Supply.

On-chain Activity: Whales Accumulate BTC and ETH in Large Amounts

• ETH Whale Emerges: On-chain detective Arkham Intelligence shows that a mysterious address has received 12,000 ETH (approximately $45.47 million) from Galaxy Digital in the last 2 hours. This wallet currently has total holdings of 113,000 ETH (approximately $427 million). Even more astonishing, the address has increased its holdings by over 100,000 ETH (worth more than $370 million) in the past 7 days.
• BTC Whale Accumulation Synchronization: Bitcoin whales are also taking frequent actions, and on-chain indicators show that accumulation is accelerating. The seller risk ratio has dropped to a historical low of 0.24, indicating that significant selling pressure has notably decreased. At the same time, the BTC Trend Accumulation Score has approached 1.0 in the past two weeks, strongly suggesting that there is substantial buying interest from institutions and whale-level investors.
• Institutional Big Moves: Anchorage Digital has accumulated 10,141 BTC (approximately 1.19 billion USD) from multiple addresses in nearly 9 hours. Additionally, since July 9, 9 new wallet addresses have cumulatively acquired 640,700 ETH (approximately 243 million USD), with three wallets increasing their holdings by 74,200 ETH (approximately 27.3 million USD) just on Thursday, indicating strong confidence among large investors.

Price Performance: ETH reaches all-time high, BTC consolidates at high levels Ethereum hit a historic high of $3,940.66 on Monday, surging 52.20% over the past 30 days. As of the time of writing, ETH is trading around $3,817, up 1.81% in the last 24 hours. Although Bitcoin reached a historic peak of $123,091 on July 14, it has slightly retreated to around $118,000 at the time of writing. Strategic ETH reserves data show that ETH held by whales and institutions has skyrocketed from 1.2 million to 2.3 million over the past four weeks. Analyst Ali Martinez added that in the past two weeks, whales have purchased an additional over 1.13 million ETH (approximately $4.18 billion).

Corporate Treasury: New Forces of ETH Holdings Rise, Huge Potential Standard Chartered Bank reported on Tuesday that Treasury Firms are making significant moves into Ethereum, purchasing approximately 1.26 million ETH (accounting for 1% of the circulating supply) within just two months. Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, pointed out:

• Starting Phase, Vast Space: The ETH treasury allocation "has just begun," and future purchase volumes could reach ten times the current level.
• Holdings may reach 10%: Such companies may ultimately hold up to 10% of the total circulating ETH supply. In comparison, Bitcoin treasury companies currently hold about 4.4% of the BTC circulating supply (with Strategy accounting for nearly 3%).
• Top Players Emerged: BitMine (BNMR) is currently the largest ETH treasury company, holding approximately 625,000 ETH (worth over 2.3 billion USD). Tom Lee's investment firm also plans to control over 5% of the total ETH supply. SharpLink Gaming (SBET) became the second largest ETH holder through multiple rounds of purchases, holding over 438,000 ETH, with its recent purchase of about 77,200 ETH even exceeding the entire net issuance of ETH in June.
• Development Path Referencing BTC: Kendrick believes that just as the Bitcoin treasury field took years for imitators to emerge from the standout of MicroStrategy (MSTR), the ETH treasury field will also see new participants. If BitMine achieves its 5% holdings target, the total share of other ETH treasury companies may eventually exceed 10%.

ETH/BTC exchange rate strengthens, Standard Chartered bullish above $4000 ETH has recently continued to outperform BTC, with the ETH/BTC exchange rate rising to the current 0.032236. Kendrick attributes this to strong buying from treasury companies and the inflow of funds into ETH spot ETFs. Standard Chartered believes that if this trend continues, ETH is expected to break through the critical $4000 mark, which is even higher than the bank's current price forecast for ETH by the end of 2025.

Unique Advantages of the ETH Treasury Kendrick emphasizes that the ETH treasury has more bullish potential than the BTC treasury, as it can not only earn approximately 3% staking rewards, but also leverage decentralized finance (DeFi) for significant advantages.

Conclusion: On-chain data clearly depicts a scenario where institutions and whales are significantly increasing their holdings near key price levels of BTC and ETH. Corporate treasuries are becoming an emerging force in the Ethereum ecosystem that cannot be ignored, with their rapid accumulation speed and Standard Chartered Bank's prediction of tenfold growth potential providing strong fundamental support for ETH. Coupled with technical breakthroughs and ETF fund inflows, the momentum for ETH to challenge the $4000 mark is building. Investors should closely monitor treasury holdings dynamics and ETH/BTC exchange rate changes to seize opportunities from structural market shifts.