Ethereum News Update: Ethereum ETFs Overtake Bitcoin, Climbing to $28.6B as Major Investors Make Bold Moves

A prominent

(ETH) whale has increased its long exposure to (BTC) and Ethereum, now holding $37 million in and $18 million in after recently closing out short positions, according to blockchain data. This adjustment mirrors a wider market trend, with institutional investors showing renewed enthusiasm for digital assets, especially as Ethereum options trading and ETF investments reach unprecedented highs.

On October 31, 2025, Deribit saw the expiration of $2.6 billion in Ethereum options, with a put-to-call ratio of 1.91, signaling a bearish outlook among options traders. At that point, Ethereum was priced at $3,847, which was under the "max pain" threshold of $4,100.12—the level where the most open contracts would lose value. This expiration happened alongside a significant increase in spot ETH ETF investments, which totaled $9.6 billion in the third quarter of 2025, surpassing the $8.7 billion in Bitcoin ETF inflows during the same timeframe, according to a

.

Ethereum has also demonstrated strength in its price movement, climbing 5.2% to $4,160 within 24 hours as of October 31. Technical experts highlight Fibonacci retracement levels that point to possible future price targets of $6,303, $9,013, and even $16,077 if the bullish trend persists, according to a

. This positive outlook is further supported by the increasing use of Ethereum’s network for tokenization, with more large companies adopting its technology.

Record-breaking ETF inflows have further boosted market optimism. U.S. spot ETH ETFs now manage $28.6 billion in assets, fueled by both institutional and retail investors, as highlighted in the TradingView piece. There has also been a notable rise in large Ethereum withdrawals from exchanges, a trend that has historically signaled accumulation phases before price surges, as noted in the TradingView report.

The whale’s decision to go long comes after a calculated move away from short positions, indicating a change in risk tolerance as market conditions improve. Although Ethereum is still trading below its recent max pain level, the combination of robust ETF inflows, increased network activity, and technical signals points to a possible breakout. Nonetheless, analysts warn that broader economic conditions and regulatory changes could still bring volatility to the market.