{"id":20146,"date":"2025-10-29T09:44:34","date_gmt":"2025-10-29T09:44:34","guid":{"rendered":"https:\/\/investx.fr\/en\/?p=20146"},"modified":"2025-10-29T09:44:36","modified_gmt":"2025-10-29T09:44:36","slug":"218-million-worth-of-solana-bought-in-one-go-who-behind-this-massive-purchase","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/218-million-worth-of-solana-bought-in-one-go-who-behind-this-massive-purchase\/","title":{"rendered":"$218 Million Worth of Solana Bought in One Go: Who is Behind This Massive Purchase?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"sell-the-news-with-bitwises-solana-etf\">Sell the News with Bitwise&#8217;s Solana ETF?<\/h2>\n\n\n\n<p>The timing of this operation is no coincidence. <strong>Bitwise<\/strong>, one of the major players in crypto asset management, has just announced the launch of its <strong>spot <a href=\"https:\/\/investx.fr\/en\/learn\/crypto\/solana\/\">Solana<\/a> ETF<\/strong>. Hours later, <strong>more than one million SOL <a href=\"https:\/\/investx.fr\/en\/learn\/crypto\/bitget-token-bgb\/\">tokens<\/a> disappeared from Coinbase wallets<\/strong> to unknown addresses. This temporal coincidence immediately triggered a wave of speculation within the <a href=\"https:\/\/investx.fr\/en\/crypto-investing\/\">crypto<\/a> community.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Bitwise new Solana ETF <a href=\"https:\/\/twitter.com\/search?q=%24BSOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BSOL<\/a> launched today and is just getting started receiving 1.1M <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a> ($220M) from Coinbase Prime.<br><br>Insitutional Solana purchases incoming. <a href=\"https:\/\/t.co\/VacJTInnky\">pic.twitter.com\/VacJTInnky<\/a><\/p>&mdash; Emmett Gallic (@emmettgallic) <a href=\"https:\/\/twitter.com\/emmettgallic\/status\/1983219870217961856?ref_src=twsrc%5Etfw\">October 28, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The amount involved exceeds <strong>$218 million<\/strong> at SOL&#8217;s current price. To put this figure in perspective, it represents approximately <strong>0.22% of Solana&#8217;s total circulating supply<\/strong>. A volume of this magnitude never goes unnoticed, especially when it involves withdrawals from exchanges to cold wallets or institutional custody platforms.<\/p>\n\n\n\n<p>On-chain data reveals that these tokens were transferred <strong>to several distinct addresses<\/strong>, suggesting a <strong>diversification or security strategy typical of institutional investors.<\/strong> This fragmentation of funds complicates the precise identification of the buyer, but several hypotheses are already emerging on specialized forums and Telegram channels dedicated to trading.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"bitwise-etf-catalyst-for-a-new-institutional-wave\">Bitwise ETF: Catalyst for a New Institutional Wave?<\/h2>\n\n\n\n<p>Bitwise&#8217;s Solana ETF announcement marks a <strong>decisive turning point for SOL&#8217;s institutional adoption<\/strong>. Following the success of <a href=\"https:\/\/investx.fr\/en\/learn\/crypto\/bitcoin\/\">Bitcoin<\/a> and <a href=\"https:\/\/investx.fr\/en\/learn\/crypto\/ethereum\/\">Ethereum<\/a> ETFs, asset managers are actively seeking to diversify their exposure to alternative cryptocurrencies. Solana, with its Proof of History consensus technology and throughput capabilities exceeding <strong>65,000 transactions per second<\/strong>, represents a significant growth opportunity.<\/p>\n\n\n\n<p>Crypto ETFs operate according to a precise mechanism: the issuer must <strong>hold the underlying assets to guarantee the value of the distributed shares<\/strong>. Bitwise therefore needs to accumulate substantial quantities of SOL to fuel its fund. The massive withdrawal observed on <a href=\"https:\/\/investx.fr\/en\/crypto-investing\/exchange\/coinbase\/vip-program\/\">Coinbase<\/a> could correspond to this <strong>initial accumulation phase<\/strong>, where the issuer builds its reserves before the official product launch.<\/p>\n\n\n\n<p>This hypothesis gains even more weight considering Bitwise has already demonstrated its expertise in crypto ETF management. The firm currently manages <strong>several billion dollars<\/strong> in digital assets and has the necessary custody infrastructure to secure such volumes. The tight timing between the announcement and the withdrawal suggests coordination planned for several weeks.<\/p>\n\n\n\n<p>Market makers, essential players in ETF operations, also need significant liquidity to <strong>ensure the creation and redemption of shares<\/strong>. These entities could explain part of the withdrawn volumes, although the total amount seems disproportionate for this operational function alone.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"solana-whales-re-emerge-accumulation-or-redistribution\">Solana Whales Re-emerge: Accumulation or Redistribution?<\/h2>\n\n\n\n<p>Beyond the institutional angle, on-chain analysis reveals accumulation behavior typical of large crypto whales. For several weeks, addresses holding more than <strong>100,000 SOL have significantly increased their positions<\/strong>. This massive withdrawal fits into this bullish trend driven by large wallets.<\/p>\n\n\n\n<p>Crypto whales typically adopt a <strong>discreet accumulation strategy<\/strong> when anticipating a major rise. Moving tokens from exchanges to personal wallets reduces the supply available on trading platforms, creating upward pressure on the price. This supply and demand mechanism explains why SOL advanced by more than <strong>8%<\/strong> in the 48 hours following this withdrawal.<\/p>\n\n\n\n<p>Several investment funds specializing in layer-1 altcoins could also be involved. These investment vehicles, often based in favorable jurisdictions such as Singapore or the UAE, manage <strong>multi-billion<\/strong> portfolios and regularly rebalance their positions. The arrival of a Solana ETF constitutes a <strong>strong buy signal<\/strong> for these professional players.<\/p>\n\n\n\n<p>Trading data shows an increase in buy volume on SOL\/USDT and SOL\/USD pairs during the same period. This correlation between exchange withdrawals and trading activity confirms that this is indeed <strong>active accumulation<\/strong>, not simply a technical transfer between platforms.<\/p>\n\n\n\n<p>Follow the institutions&#8217; lead and accumulate <strong>SOL<\/strong> at lower fees on <strong>Bitget<\/strong> with an AI agent that optimizes your gains. Also take advantage of a <strong><a href=\"https:\/\/investx.fr\/go-bitget\/charles\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">$10 bonus offer<\/a> with just a few clicks:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a class=\"https:\/\/investx.fr\/go-bitget\/charles\" href=\"https:\/\/investx.fr\/go-bitget\/charles\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" width=\"900\" height=\"200\" src=\"https:\/\/investx.fr\/en\/wp-content\/uploads\/sites\/5\/2025\/10\/Banniere-Bitget-EN1.png\" alt=\"cta with blue background for bonus Bitget 10 dollars activate bonuses\" class=\"wp-image-18527\" srcset=\"https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2025\/10\/Banniere-Bitget-EN1.png 900w, https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2025\/10\/Banniere-Bitget-EN1-300x67.png 300w, https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2025\/10\/Banniere-Bitget-EN1-768x171.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"market-impact-heading-towards-a-new-surge\">Market Impact: Heading Towards a New Surge?<\/h2>\n\n\n\n<p>This massive movement of capital comes in a favorable technical context for Solana. The token is currently trading above its key moving averages and has recently broken a major resistance around $200. The still intact bullish configuration could <strong>propel SOL towards new yearly highs.<\/strong><\/p>\n\n\n\n<p>The reduction in available supply on exchanges mechanically creates a situation of relative scarcity. When buyers must compete for a limited number of tokens available for sale, prices tend to rise rapidly. This dynamic has been observed multiple times with Bitcoin and Ethereum before their major bullish movements.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1024\" height=\"751\" src=\"https:\/\/investx.fr\/en\/wp-content\/uploads\/sites\/5\/2025\/10\/image-155.jpeg\" alt=\"Solana SOL chart in 16 hours with FBB and Order Blocks\" class=\"wp-image-20168\" srcset=\"https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2025\/10\/image-155.jpeg 1024w, https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2025\/10\/image-155-300x220.jpeg 300w, https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2025\/10\/image-155-768x563.jpeg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Nevertheless, the rejection of the POC and Order Block in 16 hours does <strong>not indicate momentum powerful enough<\/strong> to continue the upward trend. If BTC continues its short-term bearish trend, SOL could fall to <strong>$165<\/strong> in the coming days.<\/p>\n\n\n\n<p><strong>On the same topic:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/investx.fr\/en\/crypto-news\/world-liberty-financial-launches-an-airdrop-8-4-million-wlfi-tokens-heres-what-you-need-to-know\/\">World Liberty Financial Launches an Airdrop of 8.4 Million WLFI Tokens: Here\u2019s What You Need to Know<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/investx.fr\/en\/crypto-news\/3-key-reasons-why-dogecoin-could-soon-skyrocket\/\">3 Key Reasons Why Dogecoin Could Soon Skyrocket<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/investx.fr\/en\/crypto-news\/plasma-xpl-surges-potential-explosion-on-horizon-after-its-recent-crash\/\">Plasma (XPL) Surges: Is a Potential Explosion on the Horizon After its Recent Crash?<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Over a million SOL tokens left Coinbase shortly after Bitwise announced the launch of its Solana ETF. This $218 million withdrawal raises significant questions about the buyer&#8217;s identity and true intentions, sparking speculation in the market. One thing is clear: this move has the potential to reshape the Solana ecosystem.<\/p>\n","protected":false},"author":32,"featured_media":20144,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","faq_titre":"","questions_frequentes":"","custom_permalink":""},"categories":[11,10],"tags":[],"class_list":["post-20146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","category-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>&quot;Who&#039;s Behind the $218 Million Solana Purchase?&quot;<\/title>\n<meta name=\"description\" content=\"Discover why $218 million of Solana withdrawn from Coinbase following Bitwise ETF announcement. 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Je suis \u00e9galement form\u00e9 au trading et \u00e0 l\u2019analyse technique depuis plus d\u2019un an sur le march\u00e9 des cryptomonnaies, mais \u00e9galement sur le forex et les m\u00e9taux pr\u00e9cieux comme l\u2019or ou le silver. J\u2019ai obtenu un dipl\u00f4me de la Crypto Academy sur les fondamentaux techniques du Bitcoin et poss\u00e8de une exp\u00e9rience de plus de 5 ans dans le journalisme et l\u2019\u00e9criture d\u2019articles p\u00e9dagogiques. J\u2019ai notamment \u00e9crit de nombreuses masterclass pour \u00e9duquer les nouveaux venus dans l'industrie et plus de 10 000 articles et news.J\u2019ai \u00e9galement pu interviewer de nombreux fondateurs et cr\u00e9ateurs de projets dans la crypto comme Marc Lebreton (chef marketing de la blockchain SUI), EJ Ayala (Coinbase US et Draftkings), et d\u2019autres projets comme Polyhedra (Eric Vreeland), Usual (Adli Takkal Bataille), ou encore Humanity Protocol (Jade Gu). J\u2019ai plong\u00e9 dans la cryptomonnaie il y a plus de 3 ans et continue de mettre tout en \u0153uvre pour fournir du contenu de qualit\u00e9, avec de l\u2019expertise et la neutralit\u00e9 attendue d\u2019un journaliste. 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