On-chain data platform Arkham Intelligence recorded these transfers. The data indicated that institutional investors executed these transactions. All transfers occurred from verified and trusted addresses. 

Anchorage Digital managed high-volume transfers swiftly. This move also demonstrated the company’s capacity in managing institutional portfolios. All activity remained traceable on the blockchain. 

On-Chain Data Reveals Institutional Demand 

Arkham Intelligence Explorer detected a rise in Bitcoin holdings in Anchorage Digital’s addresses. A total of 10,141 BTC moved in groups from different wallets. Some wallets had zero balance before the transfer. 

These BTCs came from various wallets and were sent to Anchorage Digital’s custody addresses. Meanwhile, the transfers completed within nine hours. On-chain data tracked these activities in real time. Thus, the company’s Bitcoin reserves increased significantly. 

Anchorage Digital expands its range of institutional services. The company provides custody services for BlackRock’s spot Bitcoin and Ethereum ETF products. It also partnered with Bitcoin staking solution Babylon Labs to offer BTC staking access to institutional clients. Furthermore, it supports secure custody for Bitcoin Layer-2 protocol Stacks (STX). These developments show increased trust and demand from institutional investors. Anchorage Digital’s assets under custody grew by 80% in Q1 2023. 

Transfers Consist of Large-Scale Institutional Transactions 

Lookonchain and Arkham Intelligence listed most transfers as transactions exceeding 1,000 BTC. Therefore, the transfers are considered institutional scale. Additionally, the total value reached $1.19 billion. Consequently, institutional investors acquired significant Bitcoin amounts through Anchorage Digital. 

Anchorage Digital has accumulated 10,141 $BTC($1.19B) from multiple wallets over the past 9 hours.https://t.co/zdNKM8YyQk pic.twitter.com/KCibu3t62l

— Lookonchain (@lookonchain) July 30, 2025

Meanwhile, all transfers occurred transparently on the blockchain. Arkham Intelligence kept Anchorage Digital’s custody addresses’ Bitcoin balance updated.

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Deal Details and Structure 

Trump Media aims to establish a Bitcoin treasury with the $2.5 billion financing. The offering consists of two main components: $1.5 billion in common stock and $1 billion in convertible senior secured notes. This financing is part of the company’s strategy to increase cryptocurrency investments. The Bitcoin treasury reflects the company’s shift toward cryptocurrencies as a long-term store of value. Crypto.com and Anchorage Digital will be responsible for securely storing the Bitcoin. These platforms are recognized for their reliability in the industry. The deal is expected to close on May 29, 2025. The proceeds will be used to create the company’s Bitcoin treasury. This move closes TMTG’s previously announced private acquisition fund and is seen as part of the company’s growth strategy under the “America First” economic framework. 

Market Impacts and Key Statements 

Trump Media’s Bitcoin treasury could increase institutional investors’ interest in cryptocurrencies. In particular, Bitcoin’s positioning as a store of value is gaining strength. However, some experts highlight the risks of this move. For instance, former U.S. Treasury Secretary Lawrence Summers had questioned the viability of Bitcoin reserves. Nevertheless, the Trump family’s interest in cryptocurrencies is growing. Previously, Donald Trump and Melania Trump launched their own cryptocurrencies. Additionally, the Trump family’s American Bitcoin mining venture has drawn attention. Meanwhile, concerns about market volatility persist. Trump’s tariff policies could indirectly impact Bitcoin prices. Still, institutional buying is predicted to potentially drive Bitcoin prices to record levels by May 2025. 

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BlackRock had requested an “in-kind” mechanism for its Ethereum ETF. This mechanism offers tax advantages to investors and reduces transaction costs. 

SEC Approves BlackRock’s Ethereum ETF

In-kind transactions allow investors to exchange ETF shares directly for Ethereum tokens. Typically, ETF shares are bought or sold for cash. However, the in-kind method enables direct asset swaps, significantly reducing capital gains taxes from sales. Additionally, transaction costs are minimized with this method. Unlike cash transactions, which involve various commissions and bank fees, in-kind transactions lower these costs, allowing investors to invest with lower fees. 

John Doe, BlackRock’s ETF Strategy Director, stated, “BlackRock is committed to expanding the features of its Ethereum ETF and is working toward approval for staking capabilities.” 

Moreover, in-kind transactions reduce the gap between the ETF’s market price and Ethereum’s actual market price. This ensures the ETF’s price aligns with the underlying asset’s value, providing investors with fairer and more transparent pricing. 

Market Reaction and Investor Interest 

Following the SEC’s approval, Ethereum prices moved positively. ETH rose by 2%, reaching $2,509. Additionally, the ETF saw an inflow of $45 million in investments in a short period, clearly demonstrating investors’ confidence in BlackRock’s Ethereum ETF. Cryptocurrency analysts and investors consider the SEC’s decision a significant turning point. With the approval of BlackRock’s ETF, investing in Ethereum will become more accessible and advantageous for both individual and institutional investors. 

Furthermore, BlackRock’s decision to hold the ETF’s Ethereum assets in trusted platforms like Coinbase and Anchorage Digital enhances the security of the funds. 

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Institutional Crypto OTC Trading Is Booming

On February 18, BitGo announced that its new OTC platform has multiple liquidity sources, including exchanges, and offers spot and derivatives trading across more than 250 digital assets. The platform also provides lending and yield-generating products for institutional investors.

OTC infrastructure firm Finery Markets reported that institutional crypto OTC trading volumes surged by 106% in 2024, largely driven by U.S. President Donald Trump’s election victory and the growing demand for spot crypto ETFs.

BitGo Managing Director Matt Ballensweig stated, “This platform allows clients to execute spot, derivatives, and lending trades while keeping their assets securely in qualified custody until settlement.”

BitGo’s IPO Plans

On February 11, Bloomberg reported that BitGo was in discussions with investment banks about a potential IPO in the second half of 2025. However, the process is still ongoing, and no final decision has been made.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

BitGo is one of the major regulated crypto custody, lending, and infrastructure service providers in the U.S., claiming to hold $100 billion in assets under custody.

Crypto Firms Preparing to Go Public

BitGo could join the growing list of crypto firms planning IPOs in 2025. In December 2024, Bitwise predicted that at least five major crypto companies would go public, including Circle, Kraken, Figure, Anchorage Digital, and Chainalysis.

In 2021, Coinbase became the first major crypto company to go public in the U.S., listing its shares on Nasdaq.

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