Ethereum News Today: BitMine Immersion Largest Public ETH Holder with $2B Portfolio Eyes 5% Supply Target After $250M Raise

BitMine Immersion Technologies has emerged as the largest publicly listed entity holding Ethereum (ETH), surpassing the Ethereum Foundation and Coinbase with a portfolio valued at over $2 billion in ETH holdings. The company currently owns 566,776 ETH tokens, acquired at an average price of $3,643 per unit, positioning it to control 5% of Ethereum’s total supply through ongoing acquisitions and staking initiatives. This milestone, achieved on July 17, 2025, follows a $250 million fundraising round and marks a shift in institutional ownership within the crypto ecosystem [2][4].

The launch of options trading for BitMine’s stock (ticker: BMNR) on the New York Stock Exchange on July 23, 2025, has enhanced market accessibility for investors. The introduction of standard expiration dates and strike prices for BMNR options has already driven a 7% surge in share prices on July 24, closing at $42, and a 2.85% pre-market gain on July 23. Analysts attribute this momentum to growing confidence in BitMine’s dual strategy of expanding Ethereum holdings and bridging traditional finance with decentralized assets [1][6].

BitMine’s aggressive ETH accumulation strategy is bolstered by a $170 million investment from Ark Invest, with CEO Cathie Wood forecasting the firm’s potential to become a “next-generation digital asset manager.” Wood highlighted BitMine’s role in reshaping decentralized finance by integrating institutional-grade infrastructure with on-chain capital management [3]. This backing aligns with broader trends of institutional adoption, as BitMine’s treasury management aims to solidify its influence in both crypto and public markets.

The firm’s stock performance reflects market optimism. Shares rose sharply following the announcement of its $250 million funding round, with sources indicating that BitMine’s treasury growth has accelerated its pursuit of a 5% Ethereum supply target. While the company has not disclosed a timeline for achieving this goal, its current pace suggests a potential to significantly impact staking dynamics in the near term [4][8].

BitMine’s strategy also includes leveraging NYSE options trading to diversify risk management tools for investors. The move has drawn attention for its potential to enhance liquidity and attract institutional capital to Ethereum-related products. Analysts note that the firm’s dual focus—expanding its ETH holdings while offering traditional financial instruments—could redefine the intersection of crypto and public markets [6]. However, challenges remain, including regulatory scrutiny and the need to maintain operational efficiency as its Ethereum stake grows to a scale that could influence broader market sentiment [8].

The market’s response to these developments has been cautiously optimistic. Ethereum’s price surged 4% in early July, coinciding with BitMine’s expansion efforts, signaling growing convergence between crypto assets and conventional finance [8]. By aligning investor interests with blockchain sustainability through staking initiatives, BitMine’s approach underscores Ethereum’s evolving role in institutional portfolios.

Sources:

[1] [BitMine Immersion (BMNR) Announces Commencement of Options Trading on NYSE](https://www.easternprogress.com/bitmine-immersion-bmnr-announces-commencement-of-options-trading-on-nyse/article_2f57eb40-3416-5fce-9dde-36495ff71e76.html)

[2] [BitMine Surpasses Ethereum Foundation as Top Public ETH Holder](https://coindoo.com/bitmine-surpasses-ethereum-foundation-as-top-public-eth-holder-launches-options-on-nyse/)

[3] [BitMine Immersion to Start Options Trading on NYSE](https://www.ainvest.com/news/bitmine-immersion-start-options-trading-nyse-shares-rise-2-85-pre-market-41-48-2507/)

[4] [BitMine Begins Options Trading on NYSE as It Targets 5% of Ethereum Supply](https://defi-planet.com/2025/07/bitmine-begins-options-trading-on-nyse-as-it-targets-5-of-ethereum-supply/)

[6] [BitMine Immersion Technologies Begins Options Trading on NYSE](https://www.binance.com/en/square/post/07-23-2025-bitmine-immersion-technologies-begins-options-trading-on-nyse-27332620958489)

[8] [Ether Surges 4% as ETH Treasury Firm BitMine Steps Up Bid](https://www.coindesk.com/markets/2025/07/24/ether-surges-4-as-eth-treasury-firm-bitmine-steps-up-bid-to-acquire-5-of-supply)