Jeffrey Wilcke, one of the creators of Ethereum, has recently transferred 10,000 ETH to the Kraken exchange, adding to the over 24,000 ETH he has moved since the start of 2024. Despite this activity, the price of ETH has remained steady.

The value of Ethereum's native digital currency, ETH, experienced a significant increase earlier this week, surging by 30% to surpass $3,800. This surge in price is largely attributed to the excitement surrounding the potential approval of an Ethereum Exchange-Traded Fund (ETF) by the U.S. Securities and Exchange Commission.

Reports indicate that Ethereum co-founder Jeffrey Wilcke has been selling some of his ETH holdings during this price surge. Recent data from SpotonChain reveals that Wilcke deposited a substantial 10,000 ETH (equivalent to around $37.38 million) on the Kraken platform at a rate of $3,738 per ETH, indicating his involvement in capitalizing on the current market upswing.

Since the beginning of the year, Wilcke has deposited a total of 24,300 ETH on Kraken, totaling approximately $75.52 million at an average rate of $3,108 per ETH. Notably, his most recent deposit was made just before the significant increase in Ethereum's price.

As of the latest available information, Jeffrey Wilcke still holds 126,000 ETH, valued at roughly $473 million. In the realm of Ethereum ETFs, various issuers have updated their filings, with the VanEck Ethereum ETF application awaiting a decision from the SEC. While some anticipate approval imminently, others suggest the first spot Ether ETF may not materialize until late July or early August.

Interestingly, the recent surge in ETH price appears to be primarily driven by retail investors, as major Ethereum holders have not yet actively participated in this trend. It seems they are observing from the sidelines, possibly waiting to see the outcome of the Ether ETF developments.