There's been another major move in the ETH market. The world's largest Ethereum reserve institution, BitMine (BMNR), has accumulated an additional 138,452 ETH in just the past week—this is far from a minor operation. 💰

So how much ETH do they currently hold? 3,864,951 ETH. This figure accounts for 3.2% of the total global ETH supply. It's worth noting that BitMine previously announced their goal to hold 5% of the global ETH supply, and at this pace, they've already completed two-thirds of that target. This ongoing accumulation is, in a way, a clear statement backed by real capital.

What's even more interesting is a recent comment from BitMine Chairman Tom Lee. He believes that the supercycle for cryptocurrencies is far from over, and that market demand will see a significant surge in 2026.

Specifically regarding ETH, Tom Lee mentioned three key catalysts:
First, Wall Street institutions are pushing for large-scale asset tokenization on-chain;
Second, the ETH Fusaka upgrade has been successfully completed;
Third, the Fed’s balance sheet reduction is about to end, and there are expectations of a rate cut on December 10.

His assessment is that, with these factors combined, there's a strong probability that ETH prices will strengthen in the coming months. This isn’t just empty talk—BitMine’s own asset size backs it up. As of December 7, they hold $13.2 billion in total assets and $1 billion in cash reserves. They have the capital and the confidence to bet big.

The market's reaction has also been straightforward. BMNR’s stock price rebounded 15% over the past five days and is now trading at $35.5.

A few key signals are converging: institutions are continuing to accumulate, technical upgrades are being implemented, and macro liquidity is improving. What’s next for ETH? At the very least, BitMine appears to be well prepared. Are you?