Ethereum Co-founder Vitalik Buterin’s Cryptocurrency Holdings Surge
If you’re a cryptocurrency enthusiast, you’d be interested to know that Ethereum co-founder Vitalik Buterin saw a staggering increase in the value of his crypto holdings. According to blockchain analytics platform Arkham Intelligence, Buterin’s publicly known addresses surged from $468 million to $525 million in just 24 hours, marking a 12% increase.
The majority of Buterin’s holdings, about $518 million, is in Ethereum (ETH), indicating that the surge is mainly due to the appreciation of ETH. The rally was likely fueled by major ETF news from asset management giant BlackRock, which is considering proposing an Ethereum ETF to the U.S. Securities and Exchange Commission (SEC).
BlackRock’s Potential Spot Ethereum ETF Sparks Rally
BlackRock, with assets totaling $9 trillion, had previously filed for a spot Bitcoin ETF in June. With the recent filings for an Ethereum ETF coinciding with Ether’s price reaching around $2,030, up over 8% in 24 hours, other major financial firms have also been seeking approval for similar Ethereum ETF products.
Hot Take
Vitalik Buterin’s cryptocurrency holdings surged by over $57 million in a single day, driven by the appreciation of Ethereum and fueled by BlackRock’s potential spot Ethereum ETF proposal. This development could bring significant new institutional investment to the crypto market.
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