James Fickel borrowed 350 WBTC from Aave again and sold it for 43,784 ETH

As the US SEC requires exchanges to accelerate updates on the 19B-4 document regarding ETH spot ETFs, the probability of ETH spot ETF approval has increased greatly. ETH prices rose 18% in five hours.

During this period, multiple on-chain whales purchased ETH (mostly using leverage):

1. James Fickel, founder of the Amaranth Foundation, continued to borrow 350 WBTC (worth $25 million) from Aave and sold them for 43,784 ETH. Since January, James Fickel has been long on the ETH/BTC exchange rate, borrowing a total of 2,741 WBTC ($191 million) from Aave and exchanging them for 50,688 ETH. His ETH/BTC exchange rate cost is 0.054;

2. Three hours ago, a whale who had previously profited $20.8 million from ETH and LINK investments borrowed 10 million USDC from Aave and purchased 2,836.5 stETH at a price of $3,525. This whale also spent 20 million USDC at an average price of 63,848 to buy 313.24 WBTC a week ago (May 14).