Whales and institutions spent their time inside this bullish pennant until $ETH touched the launchpad we are sitting on now. Have you onboarded yet? Public companies now hold around 6.87M ETH, about 5.69% of total supply, worth roughly $15.8B–$16.2B. Bitmine Immersion alone holds around 4.87M–4.9M ETH, about 4.04% of supply, and is pushing toward 5%. Spot ETH ETFs have already pulled in about $11.8B in cumulative inflows, with total AUM near $13.7B. BlackRock alone holds around 2.9M–3M+ ETH. Whales have also been buying aggressively, especially around the $1,950–$2,400 range. At the same time, ETH on centralized exchanges keeps dropping. That means institutions are buying, whales are accumulating, and liquid supply is shrinking. This is how a supply squeeze gets built. $ETH is not sitting here on the launchpad by accident. 🚀