👉👉1 Billion Dollar Token Transfer Shocked the Crypto Community: What Happened? 👈👈

Last Thursday, Whale Alert announced that $1 billion worth of Ethereum was transferred from an unknown wallet to Coinbase Institutional, causing a major shakeup in the cryptocurrency market.

According to Bloomberg senior ETF analyst Eric Balchunas, this transfer was made from Grayscale's ETHE to its mini product. The new mini product is being launched with the aim of competing with giants like BlackRock and Fidelity with ultra-competitive fees. This has added a new variable to the Bitcoin ETF race that started in January. The SEC recently gave its final approval to Ethereum ETFs, and these highly anticipated products could begin trading as of today. According to Coinbase, the approval of Ethereum ETFs is “another major milestone” for the industry and will help spark further growth.

Jay Jacobs, BlackRock's Head of US Thematic and Active ETFs, praised the benefits of Ethereum as a global decentralized application platform. According to CoinGecko, ETH continues to lose value despite the upcoming ETF launch. On Monday, a rare Ethereum transfer took place from a wallet that had been unused for nine years, moving 977 ETH for the first time.

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