Trend Research Quietly Becomes One Of Ethereum’s Largest Whales...

Trend Research’s 46,379 ETH purchase vaults the private company into the top tier of ETH treasuries, behind only SharpLink Gaming and BitMine Immersion Technologies.

Trend Research purchased 46,379 Ether (ETH) on Wednesday to raise its holdings to about 580,000 ETH, making it larger than most public Ethereum treasuries tracked by CoinGecko.

Only two listed companies, SharpLink Gaming and BitMine Immersion Technologies, currently report bigger ETH balances, with 859,853 ETH and 4,066,062 ETH, respectively.

Trend Research is not a publicly listed company and therefore does not appear in most Ethereum treasury rankings. Still, it has drawn industry attention for its rapid ETH accumulation.

Trend Research is a secondary investment institution associated with LD Capital founder Jack Yi, who has been behind a series of large ETH purchases that began in October, blockchain records show.

A machine translation of Yi’s Thursday X post states that his company is preparing another $1 billion to keep buying Ether as he urged traders not to short.

The rapid accumulation by a non‑listed player, alongside Bitmine and SharpLink’s public hoards, pushes Ether treasury concentration higher even as broader market sentiment remains fragile.

Lacie Zhang, research analyst at Bitget Wallet, told Cointelegraph that companies buy ETH during downturns to transform passive treasuries into “productive, yield-bearing infrastructure.” However, unlike retail "dip buying," corporate accumulation is “often a strategic play for network dominance.”

Related: BitMine, Strategy, SharpLink stocks outpace crypto market recovery

The buying spree comes as BitMine announced a milestone of more than 4 million ETH on its balance sheet on Tuesday, or over 3.3% of the circulating supply, cementing its status as the largest known publicly listed ETH holder.

Source: CoinTelegraph