World Liberty Financial, the crypto project connected to former U.S. President Donald Trump, has made a significant purchase of Ethereum amid increasing interest from institutional investors.
Acquisition of Ethereum
According to data from onchain analytics platform Arkham Intelligence, World Liberty Financial purchased 3,473 ETH, amounting to over $13 million. The transactions were made through various wallets on Tuesday evening.
Rising Institutional Interest
The acquisition by World Liberty is tied to the growing interest from institutional investors in Ethereum. Spot Ethereum ETFs saw net inflows of $533.9 million on Tuesday, while spot Bitcoin ETFs experienced outflows of $67.9 million. This indicates a shift in investor focus towards ETH in the short term.
Project Prospects and Expectations
Currently, World Liberty Financial holds approximately 73,616 ETH, equivalent to about $275.9 million. The project team has also begun the countdown to the unlock and exchange listing of its WLFI token, which is expected to begin trading within the next 6 to 8 weeks. 'Our target for full awakening is 6 to 8 weeks. Strategic alignments take time, but the potential is great,' shared the project's expectations.
World Liberty Financial's $13 million Ethereum purchase underscores the rising interest of institutional investors in Ethereum amidst stable cryptocurrency prices.
