Just before the SEC’s final decision on the Vaneck Ethereum ETF, James Fickel, the Amaranth Foundation founder, made a bold move by investing heavily in Ethereum. Fickel bought 2,642 ETH for around $24.4 million, using 10.1 million USDC, at a rate of approximately $3,820 per ETH. This transaction reflects his positive outlook on the potential approval of the Ethereum ETF.
In a recent development, James Fickel (@jamesfickel) invested 10.1 million USDC to acquire 2,642 ETH ($24.4 million) at an average price of ~$3,820 just before the SEC’s final ruling on the Vaneck Ethereum ETF today! In the last three days, the Amaranth Foundation founder has purchased a total of 14,494 ETH using 390 WBTC and 26.1 million USDC.
Fickel has been actively increasing his Ethereum holdings, with a total investment of $53.3 million in the past three days. The average purchase price for these acquisitions was $3,675 per ETH, showcasing a calculated and substantial investment in anticipation of potential market changes.
Trading History:
Fickel’s bullish attitude towards Ethereum is not new. Just two days ago, he exchanged 350 WBTC for 6,905 ETH as Ethereum’s price rose by 20% within 24 hours, totaling a similar investment of $24.4 million at an average price of $3,534 per ETH. Since December 2023, Fickel has been bullish on the ETH/BTC trading pair, evident from his significant trades and positions on various cryptocurrency platforms.
Fickel’s recent trading activity aligns with his historical behavior. A month ago, he swiftly bought 7,814 ETH with 24.7 million USDC in just 40 minutes, continuing to leverage substantial amounts in the ETH market. Currently, he holds 128,516 ETH and 40.97 million USDC on the Aave platform, with a borrowing of 2,266 WBTC.
James Fickel, the Amaranth Foundation founder, recently invested 24.7 million USDC to purchase 7,814 ETH at an average price of ~$3,161 in a span of 40 minutes. His current positions include supplying 128,516 ETH ($404 million) and 40.97 million USDC to Aave while borrowing 2,266 WBTC ($146 million), indicating a bullish stance on the ETH/BTC pair.
Fickel’s strategic investments and positioning ahead of the SEC ruling indicate his confidence in a favorable outcome for the Ethereum ETF. His actions may influence other investors and potentially impact Ethereum’s market dynamics, depending on the SEC’s decision.