Ethereum has moved into the spotlight after massive purchases by BitMine, led by Wall Street veteran Tom Lee. He called ETH the “next Bitcoin,” and the market quickly reacted with a price rally.
Massive $358 Million ETH Accumulation
BitMine purchased 14,665 ETH from Galaxy Digital worth about $65 million, and also received a transfer of more than 65,000 ETH worth $293 million from FalconX in the past 24 hours. In total, the company added $358 million worth of ETH to its portfolio.
This raised BitMine’s holdings to 1,947,299 ETH, valued at roughly $8.69 billion. The move follows a recent weekly purchase of 153,075 ETH worth $668 million, where BitMine took advantage of a short-term dip in ETH prices.
With these additions, BitMine became the clear leader among institutional ETH holders. Its share is now 2.23 times larger than that of the second-biggest holder, SharpLink Gaming, which has also been expanding its exposure, buying more than 39,000 ETH between late August and early September.
Tom Lee: Ethereum Is Like Bitcoin in 2017
The bold strategy comes from Tom Lee, who has been vocal about Ethereum being undervalued. He compared ETH today to Bitcoin in 2017, when the leading cryptocurrency began its institutional expansion.
Lee even called Ethereum’s development the “1971 moment” – a reference to the U.S. abandoning the gold standard and reshaping global finance. He argued that the increasing use of ETH in payments and tokenization could trigger explosive growth.
ETH Price Rises on Institutional Demand
The market reacted immediately – ETH rose over 2% in the past 24 hours, extending its monthly gains to 21%, outpacing the broader crypto market.
The surge has been fueled by institutional inflows – in 2025 alone, public companies and ETFs added over 5 million ETH, bringing in more than $23 billion.
Another strong driver has been staking, which gained momentum after the SEC clarified that liquid staking is not a security. Currently, more than 35.6 million ETH is staked, representing nearly 30% of the total supply.
Fed Policy as the Next Catalyst
Lee also emphasized that the next big driver for crypto markets could be the U.S. Federal Reserve. Historically, the Fed often cuts interest rates in September, and New York Fed President John Williams has already suggested that a rate cut could be possible ahead of the upcoming FOMC meeting.
Despite ETH’s recent 10-day pullback, Lee views the consolidation trend as healthy. Still, some analysts warn that near-term resistance levels could trigger temporary corrections before ETH regains full momentum.
👉 Ethereum may now be standing where Bitcoin was seven years ago – on the brink of massive institutional adoption. If Tom Lee’s predictions prove right, ETH could be heading for explosive growth.
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Tom Lee’s BitMine Expands Ethereum Treasury With $358 Million Purchase, ETH Price Surges
Ethereum has moved into the spotlight after massive purchases by BitMine, led by Wall Street veteran Tom Lee. He called ETH the “next Bitcoin,” and the market quickly reacted with a price rally.
Massive $358 Million ETH Accumulation BitMine purchased 14,665 ETH from Galaxy Digital worth about $65 million, and also received a transfer of more than 65,000 ETH worth $293 million from FalconX in the past 24 hours. In total, the company added $358 million worth of ETH to its portfolio.
This raised BitMine’s holdings to 1,947,299 ETH, valued at roughly $8.69 billion. The move follows a recent weekly purchase of 153,075 ETH worth $668 million, where BitMine took advantage of a short-term dip in ETH prices. With these additions, BitMine became the clear leader among institutional ETH holders. Its share is now 2.23 times larger than that of the second-biggest holder, SharpLink Gaming, which has also been expanding its exposure, buying more than 39,000 ETH between late August and early September.
Tom Lee: Ethereum Is Like Bitcoin in 2017 The bold strategy comes from Tom Lee, who has been vocal about Ethereum being undervalued. He compared ETH today to Bitcoin in 2017, when the leading cryptocurrency began its institutional expansion. Lee even called Ethereum’s development the “1971 moment” – a reference to the U.S. abandoning the gold standard and reshaping global finance. He argued that the increasing use of ETH in payments and tokenization could trigger explosive growth.
ETH Price Rises on Institutional Demand The market reacted immediately – ETH rose over 2% in the past 24 hours, extending its monthly gains to 21%, outpacing the broader crypto market. The surge has been fueled by institutional inflows – in 2025 alone, public companies and ETFs added over 5 million ETH, bringing in more than $23 billion. Another strong driver has been staking, which gained momentum after the SEC clarified that liquid staking is not a security. Currently, more than 35.6 million ETH is staked, representing nearly 30% of the total supply.
Fed Policy as the Next Catalyst Lee also emphasized that the next big driver for crypto markets could be the U.S. Federal Reserve. Historically, the Fed often cuts interest rates in September, and New York Fed President John Williams has already suggested that a rate cut could be possible ahead of the upcoming FOMC meeting. Despite ETH’s recent 10-day pullback, Lee views the consolidation trend as healthy. Still, some analysts warn that near-term resistance levels could trigger temporary corrections before ETH regains full momentum.
👉 Ethereum may now be standing where Bitcoin was seven years ago – on the brink of massive institutional adoption. If Tom Lee’s predictions prove right, ETH could be heading for explosive growth.
#Ethereum , #ETH , #CryptoAnalysis , #CryptoMarket , #CryptoAdoption
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies! Notice: ,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“