Tron blockchain founder, crypto billionaire Justin Sun, has purchased a large amount of ETH. Perhaps he expects the US Securities and Exchange Commission (SEC) to authorize the launch of spot Ethereum exchange-traded funds (ETFs) in early July.
Justin Sun – Founder of Tron
Last year, Sun purchased more than $1.1 billion worth of ETH, according to recently shared analytical data.
Justin Sun collect more ETH
According to the Spot On Chain analytics account on The transaction occurred when ETH was priced at $3,472. This ETH was valued at $16.07 million at the time the purchase was made.
The data source mentioned above shares that in the past 3 days, the same Tron founder’s wallet bought (at an average price of $3,494) and withdrew from Binance 13,967 ETH worth nearly $49 million .
Source: Spot On Chain
A few days ago, Spot On Chain shared with the crypto community that Justin Sun deposited a massive Tron-USDT deposit (89.57 million coins) into Binance and spent $32.9 million of it to buy more ETH, which he then withdrew to his wallet.
In another tweet today, Spot On Chain suggested Sun may be “optimistic about the rumored launch of an Ethereum spot ETF” next week.
Source: Spot On Chain
Ethereum ETF is expected to be approved on the 2nd/7
On Friday, the developers of the Ethereum spot ETF updated their S-1 filing with the SEC. Among the published details, Franklin set Ethereum ETF fees at 0.19%, while VanEck’s fees were announced at 0.2%. Additionally, BlackRock revealed it had $10 million worth of Future Ethereum ETF shares pre-purchased by an unnamed major investor.
Previously, Consensys spread information about the securities regulator stopping its investigation into the mechanisms of Ethereum 2.0, thus refuting all rumors calling ETH a security. This surprise decision increases the chances of a more optimistic Ethereum spot ETF approval.
According to Bloomberg analysts, the expected date for the SEC to announce a positive decision on this issue is July 2.
You can see ETH price here.
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