- Ethereum co-founder Jeffrey Wilcke has recently deposited 10,000 ETH to Kraken with over 24,000 deposits done since the beginning of 2024. ETH price remains stable.
- Ethereum whales have been watching from the sidelines the developments around spot Ether ETF.
- Top players update their 19b-4 filings with the US SEC while removing staked ETH feature.
Ethereum co-founder Jeffrey Wilcke’s significant ETH deposits to Kraken spark market interest amid stable ETH prices.
Ethereum Co-founder Jeffrey Wilcke’s Major ETH Deposits
Ethereum’s native cryptocurrency ETH had a solid run-up earlier this week with the ETH price rallying all the way by 30% to over $3,800 levels. The recent ETH rally has been major due to the enthusiasm surrounding the possible approval of spot Ethereum ETF by the U.S. Securities and Exchange Commission.
Ethereum Co-founder Cashing Out
As per the on-chain data, Ethereum co-founder Jeffrey Wilcke has been reportedly cashing out on this rally. According to recent data provided by SpotonChain, Ethereum co-founder Jeffrey Wilcke deposited a staggering 10,000 ETH (equivalent to approximately $37.38 million) to the cryptocurrency exchange Kraken at a rate of $3,738 per ETH, approximately two hours ago. This shows that the Ethereum co-founder has been cashing out his ETH holdings partially on the current rise.
Since the beginning of 2024, Wilcke has reportedly deposited a total of 24,300 ETH to Kraken, amounting to around $75.52 million at an average rate of $3,108 per ETH. Notably, his most recent deposit occurred prior to the significant surge in Ethereum’s price. As of the latest data, Jeffrey Wilcke still retains ownership of 126,000 ETH, valued at approximately $473 million.
Spot Ether ETF Developments
Several ETF issuers submitted their updated 19b-4 filings on Wednesday, as the US SEC is set to decide on the VanEck Ethereum ETF application later today. Although big players like Standard Chartered have announced that the Ether ETF approval would come this week, other market analysts believe that the first spot Ether ETF will come by late July or either early August.
On the other hand, it turns out that the recent ETH price rally remains largely retail driven and the Ethereum whales haven’t yet participated actively in this matter. They’re probably watching on the sidelines as to what happens with these Ether ETFs.
Conclusion
The recent activities of Ethereum co-founder Jeffrey Wilcke, including his substantial deposits to Kraken, have certainly caught the market’s attention. As the crypto community eagerly awaits the SEC’s decision on the spot Ether ETF, the market remains in a state of anticipation. The involvement of retail investors in the recent ETH price rally highlights the growing interest and confidence in Ethereum’s future. Moving forward, the approval of the spot Ether ETF could potentially drive further market dynamics and investor participation.
