ShapeShift founder Erik Voorhees doubles down on Ethereum with $49M investment: Onchain data
ShapeShift founder and Bitcoin pioneer Erik Voorhees is continuing his Ethereum buying spree after restarting purchases following a year-long break.
According to on-chain data tracked by Lookonchain, Voorhees on Sunday spent around $49 million acquiring 23,393 ETH. He still holds over 35 million USDT and is expected to buy more ETH.
Erik Voorhees(@ErikVoorhees), an early #Bitcoin supporter and founder of ShapeShift, is buying ETH like crazy after a one-year break!
He spent 49.08M $USDT to buy 23,393 $ETH at $2,098 through 2 wallets.
He still holds 35.25M $USDT and may buy more $ETH.… pic.twitter.com/18ifLc8Ghe
— Lookonchain (@lookonchain) March 16, 2026
The prominent entrepreneur, who also founded Venice AI, reportedly resumed his ETH purchases earlier this year after selling 12,886 ETH at over $3,300 each.
Erik Voorhees(@ErikVoorhees), an early #Bitcoin supporter and founder of ShapeShift, is buying back $ETH after a one-year break.
One year ago, he sold 12,886 $ETH($42.83M) at $3,324.
In the past 5 days, he has spent 17.75M $USDT to buy back 8,576 $ETH at $2,069.
He still holds… pic.twitter.com/zTD1DdU6WU
— Lookonchain (@lookonchain) March 15, 2026
The activity was linked to wallets believed to be controlled by Erik Voorhees and labeled as such by Arkham Intelligence. He has not confirmed that he controls them.
The latest transfers came as ETH surpassed $2,200, representing a 7% increase in the last 24 hours, CoinMarketCap data shows.
The crypto market rallied over the weekend, pushing total market capitalization up about 3% to $2.5 trillion. Bitcoin advanced 2.5% to retake $73,500.