Wintermute has no more Ethereum for OTC sales

Wintermute, a major crypto market maker, has announced that it has almost completely run out of Ethereum (ETH) available for over-the-counter (OTC) sales. This shortage follows weeks of large ETH purchases by big investors, or "whales." Wintermute's founder, Evgeny Gaevoy, highlighted the ETH scarcity. The company's ETH holdings decreased from approximately 27,000 ETH on July 10th to around 8,155 ETH. This decrease happened as ETH's price rose to over $3,446. BlackRock's ETH holdings have grown to over 2 million. Another OTC provider, Galaxy Digital, has also experienced ETH outflows from its wallets. While ETH is slightly inflationary, with approximately 900,000 new coins added since the launch of ETH 2.0, the increased demand from institutions and whales is making it a scarce commodity.