James Fickel Anticipates SEC Approval for Ethereum ETF

In a significant move just hours before the SEC’s final decision on the Vaneck Ethereum ETF, James Fickel, founder of Amaranth Foundation, has made a hefty investment in Ethereum. Fickel purchased 2,642 ETH for approximately $24.4 million, using 10.1 million USDC, at a rate of around $3,820 per ETH. This transaction underscores his optimistic stance towards the anticipated approval of the Ethereum ETF.

Just now, James Fickel (@jamesfickel) spent 10.1M $USDC to buy 2,642 $ETH ($24.4M) at ~$3,820 before the SEC’s final ruling on the Vaneck Ethereum ETF today!

Overall, in the past 3 days, the founder of Amaranth Foundation has bought 14,494 $ETH using 390 $WBTC and 26.1M $USDC… https://t.co/DsEkv872tM pic.twitter.com/8I7jR1bgxS

— Spot On Chain (@spotonchain) May 23, 2024

Over the last three days, Fickel has aggressively expanded his Ethereum holdings, acquiring a total of 14,494 ETH. The funding for these purchases came from a mix of 390 WBTC and 26.1 million USDC, totaling an investment of $53.3 million. The average purchase price of these acquisitions was $3,675 per ETH, indicating a calculated and significant investment ahead of potential market shifts.

Recent Trading History

This isn’t the first time Fickel has shown a bullish attitude towards Ethereum. Just two days ago, he swapped 350 WBTC for 6,905 ETH as Ethereum’s price surged by 20% within 24 hours, amounting to a similar investment of $24.4 million at an average price of $3,534 per ETH. Since December 2023, Fickel has been increasingly bullish on the ETH/BTC trading pair, exemplified by his substantial trades and positions on various cryptocurrency platforms.

3 hours ago, James Fickel (@jamesfickel) swapped another 350 $WBTC for 6,905 $ETH ($24.4M) at ~$3,534 as the $ETH price soared 20% (24H)!

Note that since Dec 30, 2023, the founder of Amaranth Foundation has been bullish on the ETH/BTC trading pair, borrowing and exchanging 2,741… https://t.co/XOCt3o6QUw pic.twitter.com/Otdke3mYv5

— Spot On Chain (@spotonchain) May 21, 2024

Fickel’s recent activity aligns with his historical trading behavior. A month ago, he purchased 7,814 ETH with 24.7 million USDC in just 40 minutes, as he continued to leverage substantial sums in the ETH market. His current holdings include 128,516 ETH and 40.97 million USDC supplied to the Aave platform, against a borrowing of 2,266 WBTC.

James Fickel, founder of Amaranth Foundation, just spent 24.7M $USDC to buy 7,814 $ETH at ~$3,161 in the past 40 minutes.

The giant currently supplies 128,516 $ETH ($404M) and 40.97M $USDC to #Aave and borrows 2,266 $WBTC ($146M), appearing to have been going long the ETH/BTC… pic.twitter.com/rClXmuTMLK

— Spot On Chain (@spotonchain) April 26, 2024

Fickel’s extensive acquisitions and his strategic positioning prior to the SEC ruling suggest a strong belief in a favorable outcome for the Ethereum ETF. His actions might influence other investors and potentially impact Ethereum’s market dynamics, depending on the SEC’s decision.