Financial powerhouse Tom Lee just rocked the boat by admitting that he’s holding 1.15 million ETH. These assets are artificially assumed to be worth about $5 billion today. This major announcement has rocked the market. At the same time, the stock price of BitMine (BMNR) has exploded. Lee isn’t the only one accumulating ETH aggressively — other industry players are doing the same. This new swell of excitement is surely grabbing Wall Street’s attention and sparking new discussions of whether ETH is a superior investment compared to Bitcoin.

Lee's ETH Accumulation and Market Impact

The revelation of Tom Lee's substantial ETH holdings has had an immediate and positive impact on BitMine's stock performance. On Friday, BMNR jumped 25%. Then, on Monday, it surged another 15%, signaling huge investor enthusiasm for Lee’s well-timed move into ETH. For some time now Lee has been stacking ETH like crazy. In the span of a single week, he purged over 317,000 ETH, reducing his holdings to 1.15 million ETH. This amount represents approximately 1% of ETH's circulating supply, establishing BitMine as the world's largest corporate ETH holder with a treasury valued at around $5 billion.

Lee's ambitious target is to accumulate 5% of ETH's total supply, which, at current prices, would be worth approximately $25 billion. Since then, Lee and the team have been working hard to raise the funds. … then in only the past week, they won an amazing $900 million! Lee just has a lot of conviction that ETH could eat Bitcoin’s lunch. His purposeful piling up has turned him into an industry bellwether, influencing investor attitudes and market directions in a fervid cryptocurrency age. And he will be making an appearance on CNBC to discuss his ETH thesis. You won’t want to miss his take on the new investment strategy and outlook for this still fledgling cryptocurrency.

Industry-Wide Trend of ETH Accumulation

Tom Lee was not the only influential player making big moves in the ETH market. Owner of the Ethereum Foundation charity Joe Lubin’s company, SharpLink (SBET), is likewise about to reveal wallet tops of 600K ETH – nearly $2.5 billion. Lee and Lubin are boldly terms to ETH, invoking the memory of Michael Saylor’s initial Bitcoin offensive. This trend further highlights growing institutional interest in ETH.

Wall Street is certainly paying attention to this massive shift. Everyday analysts are filling Twitter timelines and Reddit threads with all the reasons ETH is better than Bitcoin. You can stake to earn staking yield, have access to DeFi and the composability of ETH-based applications. These benefits create some really exciting new opportunities for you. This increasing understanding of ETH’s specialised capabilities and promise is now only intensifying institutional interest and investment in the cryptocurrency.

ETH ETFs See Record Inflows

Demand for ETH is through the roof! This trend is no better illustrated, as ETH ETFs were recently celebrating their first day ever topping that performance with $1 billion. Perhaps more importantly, on the same day, Tom Lee purchased 1.2 million ETH for his respective fund, adding even more fuel to the market’s momentum. This surge in ETF inflows and strategic acquisitions by key players like Lee signal a growing acceptance of ETH as a mainstream investment asset.

"Just because digital asset treasuries have gone up and you don’t own it doesn’t mean it’s a bubble… A bubble is just your friend making money." - Tom Lee