Whale Opens $100M Bearish ETH Bet as Harvard Exits ETF Stake

A trader opened a $100 million leveraged short on 47,604 ETH on May 25, adding downside pressure near $2,114. This follows Harvard’s full liquidation of its $87 million iShares Ethereum Trust position in Q1 filings, alongside 11 straight days of spot ETH ETF outflows totaling ~$300 million. Regulatory sanctions on six Sinaloa-linked addresses, David Hoffman’s complete ETH exit, and large staking redemptions have compounded institutional selling since May 20, leaving ETH down 57% from its 2025 peak and testing critical technical supports.