$35M ETH Buy Pushes Trend Research’s Ethereum Bet to $1.83B as Whale Leverages $958M on Aave
Key Takeaways:Trend Research Buys Another $35M in ETH Using Borrowed CapitalLeverage, Not Timing, Drives the Accumulation StrategyFounder Jack Yi Signals Conviction in 2026 Macro TailwindsWhy Trend Research Is Ignoring Short-Term ETH SwingsTrend Research Emerges as One of the Largest ETH Holders
Trend Research is now one of the largest known Ethereum holders in the world with over 600,000 ETH, although the company is a privately held, unlisted company. This position makes it not yet included in numerous tracking dashboards such as those of the publics, despite its on-chain footprint competing with those of the publicly-traded crypto treasuries.
With an active borrowing and buying cycle as opposed to the passive treasuries, Trend is an interesting player in the liquidity of Ethereum. The supply in the spot market because of the large withdrawals of ETH in exchanges is less than usual and may pose a challenge when the demand is high.
Simultaneously, the leveraged accumulation presents systemic risk in case of a sharp change in the market. Large borrowers forced to unwind have in the past historically led to cascading liquidations across DeFi protocols.
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