Ethereum News Today: Institutional Crypto Push Defies Market Volatility

A major shift in the institutional crypto landscape unfolded as FalconX, a leading digital asset prime brokerage, finalized its acquisition of 21shares, a pioneer in exchange-traded crypto products. The deal, announced in November 2025, accelerates FalconX's expansion into trading, asset management, and market infrastructure across the U.S., Europe, and Asia-Pacific. By integrating 21shares' expertise in crypto ETPs (exchange-traded products) and ETFs (exchange-traded funds), FalconX aims to bridge traditional finance and digital assets. Russell Barlow, CEO of 21shares, emphasized the partnership's potential to "deliver greater offerings and services to clients," while retaining operational independence under FalconX's umbrella.

Meanwhile, BitMine Immersion Technologies (NYSE: BMNR), an Ethereum-focused treasury firm, continued its aggressive accumulation strategy, adding $83 million worth of ETH to its holdings. The firm now controls approximately 3.6 million ETH-about 2.9% of the circulating supply-amid a broader market correction. This move aligns with BMNR's long-term goal of securing 5% of Ethereum's total supply through equity raises and staking rewards, despite holding $3.7 billion in unrealized losses. Tom Lee, BMNR's chair and a vocal Ethereum advocate, attributes the recent price dip to "quantitative tightening" effects and predicts a rebound to $7,500 by year-end.

Institutional adoption of Ethereum further gained momentum as BlackRock registered a staked Ethereum trust in Delaware, signaling its intent to launch a yield-bearing ETH ETF in the U.S. The filing, which bypasses the Securities Act of 1933 for now, positions BlackRock to offer investors exposure to both price movements and staking rewards-a feature absent in existing spot ETH ETFs. With 30% of Ethereum's supply already staked and annualized yields hovering near 3%, the move addresses a key gap in the market. BlackRock's approach, leveraging Coinbase Custody for storage and staking, contrasts with competitors like REX-Osprey and VanEck, which use DeFi protocols or custodied staking tokens.

Robinhood and Susquehanna International Group also expanded their footprint in the crypto ecosystem by acquiring a 90% stake in LedgerX, a derivatives exchange previously owned by FTX. [The partnership, described as a "regulated infrastructure play"] https://www.bloomberg.com/news/articles/2025-11-26/miax-sells-ledgerx-exchange-once-owned-by-ftx-to-susquehanna-and-robinhood, enables the firms to control event contracts for prediction markets-a rapidly growing segment. Robinhood's vice president, JB Mackenzie, highlighted strong customer demand for prediction markets, positioning the move as a strategic response to Kalshi's dominance in the space.

However, broader market pressures persist. Bitcoin's recent drawdown, driven by ETF outflows and liquidity tightening, underscores the fragility of crypto's institutional integration. On-chain data reveals a bifurcation in holder behavior: large whales are accumulating strategically, while leveraged funds and retail investors are exiting. The U.S. Dollar Index's softness and Treasury yields near 4% further complicate Bitcoin's role as a macro hedge, with its correlation to the Nasdaq 100 rising to 0.72.