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Tom Lee’s BitMine Immersion Technologies, the world’s largest Ethereum treasury firm, snapped up another $358.3 million ETH earlier today, and whales and treasury firms are also piling into the leading altcoin.
BitMine’s latest transfer of 80,325 ETH came from Galaxy Digital and FalconX, according to on-chain analytics platform Lookonchain. The purchase brings BitMine’s total holdings to nearly 1.95 million coins worth $8.69 billion, and follows the company’s addition of 153,075 ETH worth around $668 million last week.
Other public companies around the world are also piling into Ethereum, bringing combined purchases above $1.2 billion this week, according to StrategicETHReserve.
Meanwhile, whales holding 1,000 to 100,000 ETH have increased their positions by 14% over the past five months, data from Santiment shows.
“In exactly 5 months, they have added 14.0% more coins,” Santiment wrote on X.
🐳 Ethereum has crept back up to nearly $4.5K, with accumulation coming from the key ‘millionaire’ and ‘small billionaire’ whales and sharks that hold between 1K and 100K $ETH. In exactly 5 months, they have added 14.0% more coins.
🔗 Link to chart: https://t.co/F3qGKbiF65 pic.twitter.com/oK7wdqp685
— Santiment (@santimentfeed) September 3, 2025
ETH Bucks Market Downtrend
The inflows have helped Ethereum’s price stay resilient amid a broader crypto market pullback. While Bitcoin, Binance Coin, Solana, Dogecoin, and Cardano all saw minor declines in the past 24 hours, ETH gained just over 1%, trading at $4,372.49 as of 3:07 a.m. EST.
Top cryptos by market cap (Source: CoinMarketCap)
That’s despite US spot Ethereum ETFs (exchange-traded funds) recording a multi-day net outflows streak.
Data from Farside Investors shows the ETH funds extended their streak to three days after investors pulled another $38.2 million from the investment products yesterday. This follows the $135.3 million and $164.6 million outflows on Sept. 2 and Aug. 29, respectively.
The only spot Ethereum ETF to record net daily outflows yesterday was BlackRock’s ETHA product, which also recorded no new flows the previous two days.
Those outflows suffered by ETHA were enough to negate the net daily inflows posted by Fidelity’s FETH ($65.8 million), Bitwise’s ETHW ($20.8 million), and Grayscale’s ETH ($26.6 million).
Etherealize Raises $40M To Market Ethereum
Still, Ethereum advocacy group Etherealize recently raised $40 million to promote institutional adoption on Wall Street.
The group plans to develop tools for trading and settling tokenized assets, further cementing Ethereum’s dominance in the blockchain space, which currently accounts for nearly 60% of total value locked across networks.
Launched in January, the advocacy group received funding from the Ethereum Foundation and Ethereum co-founder Vitalik Buterin to educate institutions on the blockchain and its native token.
In an announcement, Etherealize said that Electrical Capital and Paradigm led the fundraising round. It added that it will use the proceeds to “continue driving institutional adoption of Ethereum.”
Etherealize also said that it would deploy the $40 million towards the development of crypto-based financial tools aimed at institutions.
More specifically, the firm wants to build infrastructure for privately trading and settling tokenized assets, a settlement platform built for “institutional tokenization workflows,” and applications aimed at markets for tokenized fixed income products.
ETHEREALIZE’S NEXT CHAPTER
We were born as a marketing and BD arm for Ethereum.
Today, we’re excited to announce that we’re expanding our mission:
Etherealize is building for the next era of finance—where Wall Street merges with Ethereum.
(1/12) pic.twitter.com/mlmqBDmAHH
— Etherealize (@Etherealize_io) September 3, 2025
Ethereum The Top Blockchain By TVL
Ethereum is already the leading blockchain in terms of Total Value Locked (TVL), with over $91.319 billion secured on the network, data from DefiLlama shows. This accounts for around 59.63% of the market, and is much more than the second-largest market share of 7.51%, which belongs to Solana.
Analysts have said Ethereum is likely to benefit from the passing of the GENIUS Act, given its preference for stablecoin issuers.
With regards to tokenization, several projects are starting to launch tokenized stocks and bonds on Ethereum. Recently, Ondo Finance launched 24/7 on-chain access to more than 100 US stocks and ETFs on Ethereum.
1/ Wall Street 2.0 is here.
Ondo Global Markets is now live, providing one of the largest-ever selections of tokenized U.S. stocks & ETFs onchain with the liquidity of traditional finance, starting on @Ethereum.
100+ assets now live, with hundreds more on the way. pic.twitter.com/caHhT0gRX5
— Ondo Finance (@OndoFinance) September 3, 2025
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