Institutional Ethereum Accumulation Accelerates as Tom Lee’s Bitmine Adds $201M in ETH

According to Cointelegraph, Bitmine Immersion, led by Fundstrat chairman Tom Lee, deposited 67,886 ETH of the value of about 201 million dollars into their treasury on December 23, 2025. This new acquisition serves to strengthen the strategy used by Bitmine to buy Ethereum when the price is in a price consolidation phase, as opposed to following the upward trend.

After this acquisition, the total ETH that is held by Bitmine had exceeded 4 million ETH, which is about 3.37 of the circulating supply of Ethereum. According to company disclosures, the company has a long-term goal of dominating up to 5 percent of the total ETH supply, which will make Bitmine one of the most powerful institutional ETH holders.

Institutional Conviction is High

The action underscores an institutional increase in trust towards Ethereum as an underlying platform of decentralized finance, tokenization, and onchain settlement. The 13.2 billion crypto-centric capital base reported by Bitmine provides the company the ability to scale up when the market is in a downturn. Retail investors disheartened to invest.

Bitmine did this acquisition when the ETH was experiencing recent softness, which indicates that this is a conviction-based investment and not a short-term speculation. Past experience In the past, such accumulation binges large institutions in a treasury-like fashion have followed by periods of low circulating supply, which can increase as demand goes up.

Mixed Community Reaction is a Reflexion of the Market Psychology

The market responses are still divided. The long-term Ethereum price targets provided by Tom Lee (some with drastic upside) are cited by supporters of the accumulation thesis as a confirmation of the thesis. The rising critics mention contradictory accounts such as the cautious short-term projections delivered to subscribers, showing the emotional nature that still characterizes crypto markets.

Maintaining the tightening of liquid supply, millions of ETH are now locked up in long-term treasuries. In case institutional accumulation continues and staking participation expands, Ethereum may experience structural supply squeeze, meaning that it becomes more sensitive to the next demand catalyst.