Whale Holds $141 Million in Bitcoin and Ether Long Positions

A single whale held about $141 million in long positions tied to Bitcoin (BTC) and Ether (ETH) on Oct. 19, with most of the dollar exposure concentrated in BTC.

The Bitcoin position covered 1,236 BTC and was valued at $102.2 million. The Ether position covered 15,928 ETH, worth $38.67 million. By dollar value, the Bitcoin position was more than twice as large as the Ether position.

A long position gains value when the asset it tracks rises in price and loses value when that asset falls. These positions gave the trader exposure to both BTC and ETH in the same upward direction. The roughly $141 million total describes the combined size of the positions when observed, not a realized trading profit.

The Oct. 19 snapshot captures the two positions at one point in time. More than $100 million of the exposure was tied to Bitcoin, while less than $40 million was tied to Ether. The dollar value of either position can change as the price of its underlying asset moves.