FTX’s bankruptcy estate transferred 27,372 ETH, valued at about $75.32 million, to Wintermute in a transaction that was routed through six wallets. The movement was tracked on-chain and comes as Ether changes hands near $2,750, close to the $2,800 level.

The transfer points to another step in the estate’s ongoing asset liquidation process as it continues making distributions to creditors. In the reported structure, Wintermute was used as an over-the-counter market maker, a route that can reduce disruption to public order books and limit front-running around a large sale.

Large Ether transfer linked to liquidation efforts

The estate’s latest move involved 27,372 ETH sent to Wintermute, with the total value estimated at roughly $75.32 million at the time of the transfer. The transaction was split across six wallets, a detail that aligns with efforts to manage execution of a sizable position without placing the full amount directly onto open markets.

According to the source report, the routing suggests an over-the-counter sale rather than a straightforward exchange deposit. That would fit the estate’s broader task of converting digital assets into funds that can support creditor repayments while trying to avoid unnecessary market friction.

Why Wintermute may have been used

Wintermute was identified as the counterparty handling the Ether sale. As an OTC market maker, it can facilitate block transactions away from public order books, a method often used when a seller wants more certainty around execution and less visible pressure on spot markets.

The report said this approach appears designed to avoid both direct impact on open order books and the risk of front-running. For a bankruptcy estate selling large holdings, that can be more important than extracting the highest possible price from every token, particularly when the priority is orderly liquidation tied to creditor distributions.

Ether market backdrop

The transfer arrived during a stronger week for Ether. The asset was trading near $2,750 and had gained about 15% over the previous seven days, according to the source article, as the market rebounded.

That timing leaves the immediate effect of the estate’s sale unclear. The report noted that repeated transfers of this size could create a potential ceiling for price if they continue, but it did not claim a confirmed market impact from this specific transaction.

Broader distribution context

The Ether movement was presented as part of a wider pattern of sales and acquisitions visible on-chain as the FTX estate continues to work through remaining holdings. The underlying aim, according to the report, is to keep funds flowing for creditor payments rather than hold crypto assets indefinitely.

Creditors have previously received about $11 billion across five rounds of distributions. Against that backdrop, the latest Ether transfer appears to be another operational step in the estate’s liquidation strategy, with the next confirmed development likely to be further on-chain asset movements or additional creditor distribution updates.

Source: news.bitcoin.com