ShapeShift founder Erik Voorhees buys $56 million worth of Ethereum: onchain analysts
The Block
Erik Voorhees, founder of ShapeShift, recently purchased $56 million worth of Ethereum, signaling potential institutional investment in the cryptocurrency.Summary
According to onchain data from Arkham and reported by Lookonchain, Erik Voorhees, the founder of ShapeShift, purchased 24,968 ETH valued at $56.5 million using 49.08 million USDT through two separate wallets. This purchase follows Voorhees selling 12,886 ETH a year prior. He also reportedly bought $23.7 million worth of tokenized gold cryptocurrencies XAUT and PAXG. This renewed investment in Ethereum may indicate a broader trend of institutional investors gaining confidence in the cryptocurrency, coinciding with significant inflows into spot Ethereum ETFs, which saw $160.8 million in net inflows last week. Additionally, Billy Luedtke, CEO of Intuition Protocol, also purchased 7,769 ETH on the same day.
(Source：The Block)