Institutional interest in Ethereum continues to strengthen as large investors expand their exposure to the second-largest cryptocurrency. In the latest development, Tom Lee’s Bitmine has made another major Ethereum purchase through digital asset prime broker FalconX. The move highlights growing confidence in ETH even as global markets remain unsettled by geopolitical tensions.
Bitmine Makes Fresh ETH Accumulation
Blockchain tracker Lookonchain revealed in a recent X post that treasury firm Bitmine has increased its Ethereum holdings with a fresh purchase of 30,000 ETH worth approximately $61.89 million via FalconX. Citing data from Arkham Intelligence, the on-chain sleuth noted that the transaction was executed in a single transfer, highlighting the scale of the acquisition.
The latest purchase comes just days after the firm bought 60,976 ETH valued at roughly $122.8 million. Following the new acquisition, Bitmine’s total Ethereum holdings have now surpassed 4.5 million ETH, worth about $8.78 billion at current market prices.
Interestingly, the aggressive accumulation comes amid heightened uncertainty in global financial markets amid the ongoing escalation of the conflict between the United States and Iran. Despite the volatile macro environment, Bitmine is doubling down on its long-term Ethereum strategy.
The firm has previously outlined its ambitious objective of acquiring up to 5% of Ethereum’s total circulating supply. With its most recent purchase, Bitmine has taken another notable step toward achieving that goal, reinforcing its position as one of the largest corporate holders of ETH.
Bitmine Boosts Ethereum Treasury With 60,976 ETH, Now Controls 3.76% of Ethereum Supply
Ethereum ETFs and Whales Ramp Up Accumulation
Aside from corporate treasury firms, institutions and large whale investors are also doubling down on Ethereum. Data from SoSoValue shows that Ethereum exchange-traded funds (ETFs) recorded $72.37 million in inflows as of March 12, 2026.
Among the funds, Fidelity’s FETH led the pack with fresh capital inflows of about $52 million. Meanwhile, blockchain analytics platform Lookonchain recently reported that major whale wallets have also been accumulating ETH.
The on-chain tracker highlighted a whale wallet transaction in which the wallet recently purchased 18,436 ETH, worth approximately $38.36 million, from the Kraken exchange. Interestingly, the same whale had earlier acquired 44,888 ETH valued at around $92.97 million from the same exchange, suggesting a sustained accumulation strategy.
Lookonchain also revealed additional large transactions involving two separate whale wallets. In one case, a newly created wallet withdrew 11,629 ETH, worth about $23.71 million, from Binance.
At the same time, another whale withdrew 63,324 ETH valued at roughly $131.2 million from the Kraken exchange. Amid this wave of institutional and whale accumulation, Ethereum’s price has also shown strong momentum. Data from CoinMarketCap shows that ETH has surged past $2,100, reflecting renewed bullish sentiment as investors continue to increase exposure to the asset.
Evans Kelvin
The CoinRemark Team
