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While Ethereum ($ETH) continues to cause losses for its investors, institutional investors continue to buy $ETH.
At this point, the latest news is that the Chinese firm Trend Research bought additional $ETH despite an unrealized loss of $141 million.
According to EmberCN, an address believed to belong to Trend Research, a subsidiary of LD Capital, purchased an additional 46,379 $ETH worth $137 million through a leveraged loan.
Trend Research used leveraged borrowing for its recent Ethereum purchase, borrowing a total of 887 million USDT from Aave. This represents approximately double the leverage.
According to the data, the firm began accumulating $ETH last November when the price was $3,400. Since then, it has purchased a total of 580,000 $ETH, worth $1.72 billion.
The company’s average cost is approximately $3,208, while it also has unrealized losses of approximately $141 million on paper.
Trend Research has become one of Ethereum’s largest investors with its recent $ETH purchase.
The purchase of 46,379 $ETH propelled the company to the top ranks among $ETH holders, following SharpLink Gaming and BitMine Immersion Technologies.
However, because Trend Research is not a publicly traded company, it doesn’t feature in most Ethereum treasury rankings. Nevertheless, it’s attracting attention from the industry with its rapid $ETH accumulation.
$1 Billion Ethereum Purchase on the Way!
While Trend Research quietly continues its $ETH purchases, its founder Jack Yi has announced plans to invest another billion dollars in Ethereum.
Jack Yi announced in a post on his X account that Trend Research has prepared an additional $1 billion to continue purchasing $ETH.
Yi urged investors not to open short positions, adding that he sees Ethereum as a historic opportunity.
*This is not investment advice.