Ethereum News Today: Bitcoin ETFs Tank, But Founder Expands Ethereum Treasury

Bitcoin ETFs are set for their worst monthly outflows since their 2024 debut, with investors withdrawing $3.5 billion from U.S.-listed funds in November alone, according to Bloomberg data. This exodus has amplified pressure on a crypto market already reeling from a broader sell-off. BlackRock's IBIT, which dominates 60% of the sector's assets, has lost $2.2 billion this month, signaling a stark shift from the euphoria that defined earlier parts of the year. Analysts attribute the outflows to a self-reinforcing dynamic: ETF withdrawals drive Bitcoin prices lower, which in turn deepen investor pessimism. Citi Research estimates that every $1 billion in outflows correlates with a 3.4% drop in Bitcoin prices.

Amid this turmoil, BitMine Immersion (BMNR) founder Brandon Mintz has adopted a contrarian stance, selling Bitcoin purchased during previous market dips while maintaining a bullish outlook on Ethereum. Mintz, who recently stepped down as CEO to focus on strategic initiatives, has continued scaling his Ethereum holdings, with the company now holding 3.63 million ETH tokens and $11.2 billion in total crypto and cash assets. His strategy aligns with BitMine's pivot to an Ethereum treasury model, which seeks to capitalize on the asset's long-term staking potential. Despite Bitcoin's 22% monthly decline and Ethereum's 28.7% drop, Mintz remains committed to accumulating crypto, citing historical resilience in Ethereum's price cycles.

The broader crypto market has seen volatile leveraged bets exacerbate downturns. High-profile traders, such as Huang Licheng and "Buddy" Huang Lilin, have faced partial liquidations on platforms like HyperLiquid after extending 25x leveraged ETH positions, with one trader adding $115k to a 25x ETH long. These cases highlight the fragility of leveraged strategies during sharp price corrections. Meanwhile, Bitcoin's recent dip to $80,553 — a 7% decline year-to-date — has raised concerns about a potential "crypto winter", with institutional inflows failing to offset selling pressure.

Mintz's approach contrasts with the caution expressed by many market participants. LVRG Research's Nick Ruck noted, "The euphoria from earlier this year has been fully exhausted," reflecting a widespread sentiment of fatigue. Yet Mintz, who has added to his BMNR position despite the stock's 50% decline since August, emphasizes asymmetric risk/reward, arguing that Ethereum's long-term potential outweighs near-term volatility. His strategy mirrors broader industry trends, with companies like Upexi and Ethereum treasury firms opting for share buybacks to stabilize investor confidence.

As the crypto market navigates regulatory uncertainties and macroeconomic headwinds, figures like Mintz exemplify a duality of caution and conviction. While Bitcoin ETFs bleed capital and leveraged positions unravel, some investors remain anchored to the belief that the next bull cycle is already in motion.