Ethereum News Today: Ethereum Plummets 12% as Institutions Snap Up $1.37B in Holdings

Ethereum (ETH) has faced a sharp price correction in November 2025, with the token dropping nearly 12% to a four-month low of $3,000 before stabilizing at $3,384. Despite the downturn, major institutional holders have continued aggressive accumulation, with BitMine Immersion Technologies-led by Fundstrat Capital's Tom Lee-emerging as a key player. The firm added 110,288 ETH, valued at approximately $400 million at current prices, to its treasury in the past week, bringing its total holdings to over 3.5 million ETH, or 2.9% of the total supply as reported in Tom Lee's BitMine Kept Buying Ether, Added 110K Tokens .... This move underscores BitMine's strategy of treating market volatility as an opportunity to expand its Ethereum position.

The broader market has seen similar activity. Over three days, eight major entities collectively purchased 394,682 ETH, worth $1.37 billion, as Ethereum's price dipped as reported in Ethereum Whales Buy $1.37 Billion in ETH Amid 12% November Price Drop. A "Aave whale" was the largest single buyer, acquiring 257,543 ETH ($896 million), while BitMine's 40,719 ETH purchase ($139.6 million) marked a continuation of its October buying spree, which included $250 million and $113 million investments as reported in Ethereum Whales Buy $1.37 Billion in ETH Amid 12% November Price Drop.

On-chain analytics firm Lookonchain noted that such accumulation, coupled with historically low Ethereum exchange reserves since 2016, signals growing institutional confidence in the asset as reported in Ethereum Whales Buy $1.37 Billion in ETH Amid 12% November Price Drop.

Tom Lee, BitMine's chairman, emphasized the firm's conviction in Ethereum's long-term potential. "We acquired 34% more ETH than last week," he stated, highlighting BitMine's $398 million unencumbered cash balance for further purchases as reported in Tom Lee's BitMine Kept Buying Ether, Added 110K Tokens .... This approach contrasts with many digital asset treasury (DAT) firms, which have scaled back buying or shifted to share repurchases as stock prices fell below net asset values. BitMine, however, has maintained its accumulation pace, now holding the second-largest Ethereum treasury at $13.2 billion, trailing only Michael Saylor's Strategy firm as reported in Tom Lee's BitMine Kept Buying Ether, Added 110K Tokens ....

Market analysts have observed that BitMine's actions could influence Ethereum's supply dynamics. Ted Pillows, an on-chain analyst, noted that the firm's reported weekly purchases of $200–300 million in ETH could accelerate supply tightening as reported in Ethereum Whales Snap Nearly 400K ETH in Three Days, Total Purchases Exceed $1.37B. Meanwhile, broader institutional buying pressure has waned, with net accumulation falling below daily miner issuance for the first time in seven months, per Capriole Investments founder Charles Edwards as reported in Bitcoin & ETH Treasuries Surge: Strategy, BitMine Buy Fresh. This shift suggests a potential recalibration in institutional interest as markets digest the recent correction.

Ethereum's price rebound to $3,600 and BitMine's stock rallying over 5% following its announcement indicate investor optimism as reported in Tom Lee's BitMine Kept Buying Ether, Added 110K Tokens .... With BitMine now halfway toward its goal of acquiring 5% of the Ethereum supply, the firm's strategy could further solidify Ethereum's institutional adoption. As Lee remarked, "A few more whales like BitMine, and the market's tone could change overnight," reflecting the growing role of large holders in shaping crypto markets as reported in Ethereum Whales Snap Nearly 400K ETH in Three Days, Total Purchases Exceed $1.37B.