Bhutan-Linked Fund Makes Bold Move on Ethereum
Recent on-chain activity suggests a wallet tied to Bhutan’s sovereign wealth initiative has taken an aggressive bullish position on Ethereum. The address withdrew 42,000 ETH and 54 million USDT from Binance, then converted the stablecoins into additional ETH holdings.
Leveraging DeFi for Maximum Exposure
Data shows the entity deposited ETH into Aave as collateral and borrowed approximately 275 million USDT against it. These funds were swiftly used to acquire more ETH, effectively multiplying its long exposure in a sophisticated capital maneuver.
- Initial ETH balance: 42,000
- Additional ETH acquired: ~75,000
- Total current position: ~117,000 ETH
- Estimated value: ~$459 million
This strategic use of decentralized finance reflects a growing trend among institutional actors to leverage smart contract platforms for advanced portfolio optimization. The fully traceable nature of the transactions also highlights a shift toward transparent, on-chain treasury management.
As Ethereum strengthens its role in global finance, such high-profile positions may increasingly influence market sentiment and price dynamics.