According to a report Ethereum co-founder Vitalik Buterin made a profit of $57 million in a single day on July 30, 2023, following the announcement of an Ethereum-based exchange-traded fund (ETF) by Grayscale Investments. The profit was realized through Buterin's holdings of Ethereum tokens, which surged in value on the news. The ETF, which is expected to launch in the fourth quarter of 2023, will provide institutional investors with exposure to Ethereum without the need to directly purchase or manage the cryptocurrency. The news of the ETF was widely seen as a positive development for Ethereum, and Buterin's profit reflects the growing interest in the cryptocurrency from institutional investors.