Ethereum News Today: Institutions Shift Treasuries to Ethereum as Bitcoin's Lead Fades

Ethereum (ETH) is drawing renewed institutional interest as BitMine Immersion Technologies (BMNR) continues to expand its treasury holdings, purchasing 44,036 ETH worth $166 million during a recent market dip, according to Yahoo Finance. The firm, now holding 3.31 million ETH—approximately 2.8% of the circulating supply—has positioned itself as the second-largest digital asset treasury (DAT) globally, trailing only MicroStrategy's Bitcoin holdings, per FXStreet. This aggressive accumulation comes amid a broader shift in institutional demand from Bitcoin to Ethereum, with Ethereum ETFs surpassing their Bitcoin counterparts in quarterly inflows for the first time in 2025, as noted in a TradingView report.

BitMine's chairman, Thomas Lee, attributed the firm's strategy to easing U.S.-China trade tensions and a reset in ether derivatives open interest to midyear levels, as reported by Yahoo Finance. The company reported total assets of $14.2 billion, including $305 million in unencumbered cash and smaller stakes in Bitcoin and Worldcoin. Lee emphasized Ethereum's "alchemy of 5%" goal, aiming to control 5% of the ether supply, a target now within reach given its current holdings, according to FXStreet.

The market response to these developments has been mixed. While Ethereum ETFs saw $9.6 billion in inflows during Q3 2025, spot ETFs recorded a two-week outflow streak of $555 million in October, according to Bitcoinist. This divergence highlights a bifurcation in investor behavior, with direct corporate treasury purchases accelerating even as retail demand wanes. BitMine's $166 million acquisition, coupled with other firms' holdings, now accounts for nearly 4.94% of all circulating ETH, the Bitcoinist piece notes.

Technically, Ethereum faces critical junctures. The price has stabilized above $4,000 but remains below key resistance at $4,270. Analysts note that a breakout above $4,250 could trigger a rally toward $5,270–$5,940, while failure to clear this level risks a pullback toward $3,700, as covered by Yahoo Finance. Institutional activity has reinforced this narrative, with open interest in ether derivatives surging 11.7% in a 24-hour window, per Bitcoinist. Meanwhile, on-chain data shows renewed whale accumulation, signaling confidence in Ethereum's long-term value proposition, according to TradingView data.

The broader market context underscores Ethereum's evolving role. As institutional investors prioritize yield-bearing assets and on-chain innovation, Ethereum's utility in DeFi and layer-2 ecosystems is gaining traction, a trend highlighted by TradingView. This contrasts with Bitcoin's dominance as a store of value, with Ethereum ETFs now attracting more inflows than Bitcoin's for the first time in 2025, as the TradingView report observed.