Mystery Bitcoin Whale Snaps Up $424 Million in BTC, Sparking Speculation of Link to Possible Spot ETF
- Mystery Bitcoin wallet buys 11,268 BTC worth $424M since November 10
- Now the 74th largest BTC holder according to Bitinfocharts
- Buys made at prices from $36k to $38k; sitting on $9.8M in unrealized profits
- Speculation wallet could be tied to US asset manager hoping to launch spot BTC ETF
- If approved, spot ETF managers need to custody large BTC to meet demand