In recent days, the likelihood of the SEC approving Ethereum ETFs has grown, causing a surge in the value of ETH. During this period, Ethereum's co-founder, Jeffrey Wilcke, made a notable move in the cryptocurrency market.

While it is commonly assumed that large crypto transfers to exchanges indicate selling, Jeffrey Wilcke transferred 10,000 ETH valued at $37.38 million to the exchange Kraken today, amidst ETH's price surge of over 23%.

Despite cashing in on some of his ETH holdings due to the price increase, Wilcke still retains a substantial amount of ETH, as evidenced by Spot On Chain data, showing he currently holds 126,000 ETH valued at $473 million.

Jeffrey Wilcke, one of Ethereum's co-founders, recently moved 10,000 ETH (equivalent to $37.38 million) to Kraken at an average price of $3,738. Since the start of 2024, he has deposited a total of 24,300 ETH worth $75.52 million on Kraken, with the latest deposit occurring just before the price surge began.

As of now, Jeffrey Wilcke's ETH holdings amount to 126,000 ETH, valued at $473 million. The price of Ethereum stands at $3,803 at the time of this update.