The latest on-chain data shows that an address suspected to be linked to the Bhutan Sovereign Fund is engaging in large-scale, high-leverage operations on the ETH market. According to on-chain monitoring, this address withdrew 42,000 ETH and 54 million USDT from a major exchange. Interestingly, this operation did not stop there. The address subsequently exchanged USDT for ETH and deposited this ETH into the lending protocol Aave. Next, they borrowed approximately 275 million USDT to continue increasing their ETH holdings. Through this series of maneuvers, the address currently holds about 117,000 ETH. Such large-scale leveraged long positions also reflect the market's optimistic outlook on ETH's future performance. These institutional-level trading actions often become focal points for market participants.