FX168 Financial News (Asia Pacific) On-Chain Analyst Ember Monitoring found that an ancient giant whale that received 16,636 Ether from ShapeShift in February 2016 at a unit price of $5.23 and began selling these Ethers after a lapse of 8 years. Its book profit value has exceeded 44,600%, and the total value is as high as 38.92 million US dollars.
Ember pointed out that the giant whale initially held and did not sell these ethers after receiving them. Until Monday (September 16), he transferred these 16,636 ethers to the 0xe3e... 566 address, and then sold 350 ethers at a price of 2,340 US dollars.
(Source: Twitter)
The giant whale initially received these 16,636 Ether worth only $87,135, but now the value is as high as $38.92 million.
The revival of ancient giant whales provides a major warning signal to the market, and long-term holders seem unsure about recent trends.
On Monday, according to @ai_9684xtpa监测, the giant whale, which opened a position of 500 bitcoins at an average price of $63,554 at the end of August, once again “cleared and cut meat,” losing about $1.2 million. In July, he also bought 855 bitcoins at a high price of $6,3878. When the $5,7031 plummeted, he cut down his position, losing 4.087 million dollars, and the remaining 259 were still losing 1.408 million dollars.
(Source: Twitter)
On Friday, Wall Street asset management giant VanEck announced its decision to liquidate its Ether Futures ETF (EFUT). According to officially released information, shareholders will have the opportunity to sell their shares on the fund's listed exchange until the market closes on September 16, 2024.
(Source: Twitter)
(Source: Bitcoinist)
After this date, the shares will no longer be traded on exchanges and will be officially delisted. Investors are advised that if they sell shares before this date, they may pay a transaction fee to the broker.
According to the notice, shareholders who continue to hold shares on the liquidation date (expected to be around September 23, 2024) will receive a cash distribution equivalent to the net asset value of their shares.
This means that shareholders will receive a cash amount based on the value of their holdings at the time of liquidation, and this cash will be credited to the cash portion of their brokerage account.
Additionally, shareholders may receive a final distribution of the fund's undistributed net income and capital gains prior to liquidation. This can provide investors with additional financial benefits when reducing their investment in ETFs.
VanEck also indicated that the final tax status of all fund allocations, including liquidation allocations, will be communicated to shareholders through year-end tax reports. The report will clarify any portion of the distribution that may be considered a return on capital, which may affect the basis for shareholders to hold their shares.
Earlier this year, the asset manager also closed its Bitcoin futures ETF because its Bitcoin spot ETF was approved in January of this year.
However, the announcement did not mention its recently launched Ether Spot ETF (ETHV), which is still on the asset management company's product list despite significant capital outflows since trading began in July.
Over the past month, both the Ethereum and Bitcoin spot ETF markets have experienced significant outflows, further affecting the ongoing price adjustments of the two largest cryptocurrencies in the market.