Ethereum (ETH) surged over 4% to reach $3,755 on Thursday after treasury firm BitMine Immersion Technologies revealed massive ETH holdings just over two weeks after raising capital. The announcement underscores accelerating institutional demand and fresh momentum in Ether’s price trajectory.
BitMine Buys 566,776 ETH in Just 16 Days
In a significant disclosure, BitMine confirmed its ETH holdings now exceed $2 billion, totaling 566,776 ETH acquired at an average price of $3,643.75. This rapid accumulation follows a $250 million private placement completed just 16 days earlier.
The company has made clear its goal: acquire and stake 5% of Ethereum’s total circulating supply.
The scale and speed of BitMine’s acquisition strategy has stunned analysts and provided a clear bullish signal to the market. ETH rebounded strongly from a morning dip, climbing to intraday highs just after the news broke.
New Financial Tools Expand ETH Exposure
Adding to the bullish momentum, BitMine announced that options on its Nasdaq-listed stock (BMNR) began trading on the NYSE Options Market. These equity derivatives provide institutional and retail investors with more exposure to the company’s Ethereum-focused strategy.
The introduction of BMNR options is a major step in broadening Ether’s financial ecosystem through publicly traded vehicles.
BitMine calls its approach “asset-light,” using a blend of staking yields, treasury management, and external financing to expand ETH-per-share value for investors.
ETF Growth Highlights Soaring Institutional Interest
Meanwhile, institutional demand for Ether continues to gain traction. BlackRock’s iShares Ethereum Trust ETF (ETHA) has now surpassed $10 billion in AUM, doubling in just 10 days — a growth rate matched only by its Bitcoin ETF peers.
ETHA became the third-fastest ETF in history to hit the $10B milestone, trailing only IBIT and FBTC. This rapid growth underscores a wider trend: Ethereum is fast becoming a favored asset class for regulated investors.
Conclusion
Ether’s strong price action, backed by BitMine’s aggressive accumulation and broader ETF growth, suggests rising confidence in ETH as a long-term store of value. As institutional players deepen their involvement, Ethereum’s supply dynamics could tighten, potentially setting the stage for even higher prices in the months ahead.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.