COINOTAG News on September 25 reported that on-chain analytics firm lookonchain recorded transfers totaling 295,861 ETH (approximately $1.19 billion) to 11 wallets. The movements were traced to institutional counterparties including Kraken, Galaxy Digital OTC, BitGo, and FalconX.

On-chain records indicate this notional shift of ETH reflects large-value settlements between custodial and trading entities; such flows are routinely monitored by market participants and compliance teams for balance-sheet reconciliations. The reported activity highlights ongoing institutional liquidity dynamics and the operational role of OTC desks and custody providers in managing significant ETH transfers.