Founder of Giant Science Foundation Spent $150 Million for Ethereum/Bitcoin

An Ethereum investor opened a new position after the SEC contacted exchanges in the USA.

According to blockchain data, James Fickel, an early investor in Ethereum and founder of the Amaranth Foundation, borrowed 350 Wrapped Bitcoin ($25 million) from Aave after the SEC updated the exchanges' 19b-4 filings.

The SEC's request strengthened the expectation that spot Ethereum ETFs would be approved. Ethereum price increased by 20% on a daily basis.

Fickel traded WBTCs for 6,905 Ethereum to take a long position on the Ethereum/Bitcoin (ETH/BTC) pair.

According to Spot On Chain data, Fickel has been taking a long position in the ETH/BTC parity since December 30, 2023. So far he has borrowed a total of 2,741 Wrapped Bitcoins and traded them for a total of 50,688 Ethereums at an average price of 0.054.