Cameron and Tyler Winklevoss (the Winklevoss twins) saw wallets move approximately $60 million in Bitcoin and about $7 million in Ethereum toward Gemini-linked addresses on July 1, 2026, according to Arkham Intelligence.
Key Takeaways
- Arkham flagged approximately $60 million in BTC and about $7 million in ETH moving from Winklevoss custody to Gemini-linked addresses.
- The pattern matches the twins’ prior disclosed transfers, following about $67.5 million in June and $130 million in March, per Arkham.
- According to Citigroup, its 12-month Bitcoin target was cut to $82,000 from $112,000 and its Ethereum target to $2,240 from $3,175.
- SharpLink Gaming added 10,000 ETH, lifting its treasury to 886,725 ETH.
- BitMine grew its Ethereum stack to 5,700,040 ETH after buying 27,084 ETH in a single week.
What Happened?
On-chain wallet data tracked by Arkham Intelligence shows custody-to-hot-wallet transfers from the Winklevoss Capital entity to Gemini-linked addresses, a pattern consistent with the twins’ prior disclosed selling behavior, moving $60 million in Bitcoin and about $7 million in Ethereum. On-chain routing alone does not prove the coins were sold rather than repositioned for custody or liquidity purposes, but sending funds to an exchange-linked address is the same signature Arkham has flagged from this entity before.
Arkham’s history for the entity also shows about $67.5 million in Bitcoin sent to Gemini the prior month and $130 million three months earlier. The twins have realized approximately $1.7 billion in Bitcoin profit since they began accumulating the asset in 2015, and still hold more than $300 million in Bitcoin, a position that keeps shrinking with each transfer even as it remains sizable. That backdrop matters for tracking large-holder flows, since repeated custody-to-exchange transfers can register in venue volume well before any sale prints.
THE WINKLEVOSS TWINS ARE SELLING BITCOIN
— Arkham (@arkham) July 1, 2026
The Winklevoss Twins just moved $60M of BTC to Gemini, and $7M of ETH. This activity pattern matches usual selling patterns (custody > hot wallet).
The Winklevosses still hold over $300M of BTC. They made ~$1.7 Billion from Bitcoin since… pic.twitter.com/OXtxB2QBqO
Market Backdrop: Citi Slashes Both Forecasts
Citigroup cut its 12-month Bitcoin price target to $82,000 from $112,000 and lowered its Ethereum forecast to $2,240 from $3,175, citing an assumption of near-zero net ETF inflows going forward. The bank’s revision reframes the moment: this is not an isolated whale withdrawal, but part of a broader repricing where a major bank now expects the ETF-driven demand that powered the prior rally to stall out.
Bitcoin has continued trading well off its recent highs, while Ether has slipped toward depressed multi-month levels. Neither move is pinned here to a single verified tick; the directional weakness across both assets is the relevant signal, not a precise print. That weakness also shapes exposure for smaller holders, who tend to carry more drawdown risk than institutional treasuries with multi-year mandates.
Corporate Treasuries Keep Buying Ethereum
Not everyone is pulling back. SharpLink Gaming disclosed acquiring 10,000 ETH at an average price of $1,611 per token, bringing its holdings to 886,725 ETH, alongside a $75 million raise and repurchases of more than 2.1 million shares of common stock. BitMine acquired 27,084 ETH over the prior week, lifting its holdings to 5,700,040 ETH at an average price of $1,569.
CoinLaw’s Takeaway
A custody-to-exchange transfer is not confirmation of a sale, and treating on-chain movement as a settled liquidation ignores the gap between a wallet reshuffle and an executed trade. What is verifiable is the repetition. Arkham has now tracked three disclosed transfers to Gemini-linked wallets since March. Whether the latest $60 million in Bitcoin and $7 million in Ethereum ever converts to a market sale remains unconfirmed.
