Vitalik Buterin Ethereum Holdings Hit $1B Amid Whale Battle

Key Points

• Vitalik Buterin Ethereum Holdings Hit $1B Amid Whale Battle
• OTC desks report a severe shortage of ETH for large trades
• Whales and institutions scramble for the remaining supply
• Scarcity fuels fresh ETH vs BTC market dominance debate

Vitalik Buterin’s Ethereum holdings have crossed the $1 billion mark, triggering waves of speculation across the crypto space.

On-chain data shows a tight ETH supply in over-the-counter (OTC) markets, forcing big buyers to fight for what’s left,  and reigniting the old Ethereum vs Bitcoin rivalry.

Vitalik Buterin Public Portfolio. Source: Arkham – Techtoken

Buterin’s Billion-Dollar ETH Stash in Full View

Blockchain transparency makes it easy to track Buterin’s wallets. According to Arkham Intelligence and Etherscan, his known addresses hold more than 240,000 ETH, currently worth over $1 billion.

These wallets also display validator activity and historical transactions, providing a rare public view into a founder’s stake.

🐋 BIG ETH OTC FLOWS: In the past hour, Binance, Coinbase & Bitstamp moved ~$160M in ETH to Galaxy Digital’s OTC desk.

Largest single tx: 4.5K ETH ($18.99M). Ethereum whales are moving heavy today. pic.twitter.com/lJvtw77S4F

— CryptosRus (@CryptosR_Us) August 10, 2025

Arkham’s dashboards even detail validator roles, rewards earned, and interactions with major DeFi protocols. This visibility is unusual compared to other blockchain founders, whose holdings are often hidden through private wallets or custodians.

Buterin’s fortune may be newsworthy, but the real market drama is unfolding behind the scenes. OTC desks,  where institutions and whales typically trade large volumes without moving the public market, are running dry.

Reports suggest heavy ETH transfers to Galaxy Digital’s OTC desk, with one single transaction moving 4,500 ETH worth nearly $19 million.

Market-making giant Wintermute has reportedly run out of OTC Ethereum altogether. This shortage means large buyers may have no choice but to enter public exchanges, potentially triggering price pressure.

A well-known trader on X summed it up: “If Wintermute’s dry, ETH could be forced back to public markets. $5,000 might come sooner than people think.”

❤️💛💚💙

WinterMute, known Market Maker Manipulator Scammers, have run out of Ethereum on their OTC desk.

This means the only way to buy ETH is by the public open market.

I wonder if Ethereum can punch $5000 soon? pic.twitter.com/Y1ABGqysaG

— yourfriendSOMMI ❤️💛💚💙 (@yourfriendSOMMI) August 11, 2025

Scarcity Brings ETH vs BTC Rivalry Back

A tight supply tends to revive the Ethereum vs. Bitcoin debate. Traders recall moments in history when ETH almost overtook BTC in market dominance, most famously in June 2017, when ETH reached 31.2% market share against BTC’s 37.8%. The flipping never happened, but the memory lingers.

hearing there is just 42 ETH left on OTC desks

if true, ETH is going straight to $80,000!!

— borovik (@3orovik) August 10, 2025

Now, with whales scrambling for ETH, some speculate whether scarcity could fuel another run at Bitcoin’s crown,  even if only for a short time. The idea isn’t just fan hype; it’s rooted in the fact that liquidity crunches can magnify upward moves if demand stays strong.

Có thể bạn chưa biết, Ethereum từng suýt vượt BTC để trở thành đồng coin có vốn hóa lớn nhất vào ngày 18/6/2017. Khi đó, BTC chiếm 37,8% thị phần còn ETH đạt 31,2%. Nhưng cuối cùng điều đó không xảy ra, BTC lấy lại thế áp đảo và giữ khoảng cách lớn với… pic.twitter.com/wkfvA2waU4

— ThuanCapital (@ThuanCapital) August 10, 2025

Social sentiment also plays a role. Posts highlighting the 2017 near-flipping are going viral again, sparking heated debates about Ethereum scalability, staking rewards, and Layer 2 adoption. Some believe ETH’s growing role in DeFi and tokenization gives it an edge over Bitcoin in future market cycles.

Bitcoin vs Ethereum Dominance Chart. Source: ThuanCapital – Techtoken

How Whale Activity Could Shape ETH’s Next Move

Whale behavior often signals where the market might be headed. In this case, the large ETH transfers to OTC desks suggest preparation for significant private deals. However, the sudden shortage in OTC supply could create a chain reaction:

1. Whales turn to public exchanges – pushing buy orders directly into visible markets.

2. Spot market prices rise – potentially triggering short squeezes and attracting momentum traders.

3. Retail follows whale moves – adding further fuel to the rally.

On-chain analysts note that Ethereum’s staking mechanism also plays into the supply crunch. With more than 33 million ETH already locked in staking contracts, less liquidity is available for active trading. This makes it harder for big buyers to acquire large positions without moving the price significantly.

If OTC scarcity persists, the public market could become the only arena for whale accumulation,  creating a perfect storm for a potential Ethereum price breakout.