Tom Lee & Bitmine May Have Bought 60K More ETH!

On-chain data is pointing to a significant accumulation move: Tom Lee and Bitmine appear to have purchased another 60,000 ETH, with a formal Bitmine announcement expected imminently. At the current pace, the firm is still tracking toward its stated target of holding 5% of Ethereum's circulating supply — a goal that would represent one of the largest single-entity ETH positions outside of protocol treasuries.

The accumulation story is unfolding against a broader structural tailwind. Fundstrat's Tom Lee has hinted at the possibility of Ethereum being included in the Russell 1000 index, a move that would force passive ETF and index funds to buy ETH exposure automatically — a mechanical bid that has nothing to do with retail sentiment.