Ether whales, entities holding between 1,000 to 100,000 ETH, have significantly increased their Ethereum holdings since April 2025, accumulating 14% more coins. This accumulation trend, observed by crypto sentiment platform Santiment, suggests a growing confidence in Ethereum's potential. The increase in holdings by these large players, whose portfolios are valued between $4.41 million and $440.81 million, has occurred over five months. This bullish signal comes as Ether has rebounded strongly from its yearly low of $1,472 on April 9, reaching a trading price of $4,376.
Market analysts often monitor whale activity to gauge overall market sentiment. Accumulation trends typically suggest bullish expectations and potential for higher prices, while sell-offs can signal bearish sentiment. The recent accumulation by Ether whales points towards a strong belief in the cryptocurrency's future growth. Some whales, however, were caught off guard by the rally, selling near the bottom and then buying back in as the price increased.
Several factors are attributed to Ether's impressive surge. Increasing inflows into Ethereum ETFs and growing ETH treasury holdings have played a significant role. StrategicETHReserve indicates that ETH treasuries now hold nearly 3% of the total Ether supply, with the largest treasury firms, such as BitMine Immersion Technologies and Sharplink Gaming, initiating their first purchases in June when Ether traded between $2,228 and $2,813. BitMine, the largest ETH treasury company, holds $8.22 billion worth of ETH, while Sharplink Gaming holds $3.69 billion. Collectively, ETH treasury companies hold $15.83 billion worth of ETH.
The interest in Ethereum extends beyond individual whales, with institutional investors also demonstrating increased activity. August saw substantial inflows into Ethereum ETF funds, totaling $3.87 billion, contrasting with Bitcoin ETFs, which experienced outflows of $751 million. This trend underscores Ethereum's growing appeal as a preferred asset among institutions. Wall Street-backed investment firm The Ether Machine recently increased its holdings to nearly 500,000 ETH, valued at $2.19 billion, further highlighting this institutional accumulation.
Ethereum's price has been steadily climbing, with analysts forecasting further potential for growth. Some analysts predict that Ether could trade between $4,373 and $5,255 in September 2025, with the possibility of reaching $5,000 and even $7,000 by the end of the year. Optimistic projections even suggest that Ethereum could reach $10,000 by 2025. However, some suggest that Ethereum may retest $4,000.
Several factors support these bullish forecasts. Progress in Ethereum ETFs, increasing institutional adoption, and Ethereum's pivotal role in smart contracts and decentralized exchanges contribute to market optimism. Ethereum's dominance in crypto staking, liquidity provision, and Layer 2 scaling solutions also bolsters confidence.
Despite the positive outlook, volatility persists, and potential short-term corrections could occur if profit-taking intensifies. For September 2025, a key factor to watch is Ethereum's ability to break above the $4,530–$4,550 resistance range; successfully doing so could pave the way toward $5,000.
In a notable move, a Bitcoin OG recently sold over $400 million in BTC to purchase Ethereum, highlighting a shift in capital allocation towards ETH. This investor now holds over 800,000 ETH, valued at approximately $4 billion, with the majority staked to earn rewards. This strategic shift underscores a growing confidence in Ethereum's potential for returns.
Mega-whale wallets, holding 10,000 ETH or more, now control 41 million ETH, a 9.3% increase since October. Smaller whales and sharks, holding between 1,000 and 100,000 ETH, have also increased their holdings, collectively owning about 27% of Ethereum's supply. The top 104 wallets, each with over 100,000 ETH, control 57% of the total supply, marking a new high.
