Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway'
Published . Updated .
The purchase lifts Bitmine's stash to nearly 5.99 million ETH—4.9% of supply—as chairman Tom Lee argues Ethereum's outperformance signals a stronger move ahead and institutions remain underweight.
Directly affected
- CRCW Crypto
Named in this report.
Indirectly affected
- IBIT iShares Bitcoin Trust
This price moves with the crypto market
- COIN Coinbase
The crypto exchange moves with trading volumes
- MSTR Strategy
This company's value is tied to its bitcoin holdings
- MARA MARA Holdings
Bitcoin miners move with the bitcoin price
- RIOT Riot Platforms
Bitcoin miners move with the bitcoin price
- HOOD Robinhood
Retail trading apps move with crypto volumes
- ETHA iShares Ethereum ETF
GA selected ETHA as a RELATED security because its canonical security name directly matches this event's themes: ethereum. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- FAS DIREXION DAILY FINANCIAL BULL 3X ETF
GA selected FAS as a RELATED security because its canonical security name directly matches this event's themes: bull. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- GGLL DIREXION DAILY GOOGL BULL 2X ETF
GA selected GGLL as a RELATED security because its canonical security name directly matches this event's themes: bull. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- METU DIREXION DAILY META BULL 2X ETF
GA selected METU as a RELATED security because its canonical security name directly matches this event's themes: bull. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
Price reaction, T-5 to T+3
The purchase lifts Bitmine's stash to nearly 5.99 million ETH—4.9% of supply—as chairman Tom Lee argues Ethereum's outperformance signals a stronger move ahead and institutions remain underweight.
Source: Decrypt
The price since 21 Sep 2026: iShares Ethereum Trust ETF (ETHA) versus the S&P 500
Since the first closing price after “Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway',” iShares Ethereum Trust ETF (ETHA) is +160.60%. The S&P 500 fund (SPY) is -0.88% over the same days, a +161.48% difference versus the market.
Who gains and who loses around iShares Ethereum Trust ETF (ETHA)
Companies tied to this story
- ETHA iShares Ethereum Trust ETF
In “Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway',” iShares Ethereum Trust ETF (ETHA) is linked, with no stored direction, medium confidence. Reason on file: GA selected ETHA as a RELATED security because its canonical security name directly matches this event's themes: ethereum. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- FAS Direxion Daily Financial Bull 3X Etf
In “Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway',” Direxion Daily Financial Bull 3X Etf (FAS) is linked, with no stored direction, medium confidence. Reason on file: GA selected FAS as a RELATED security because its canonical security name directly matches this event's themes: bull. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- GGLL Direxion Daily Googl Bull 2X Etf
For “Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway',” Direxion Daily Googl Bull 2X Etf (GGLL) is linked, with no stored direction, medium confidence. Reason on file: GA selected GGLL as a RELATED security because its canonical security name directly matches this event's themes: bull. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- METU Direxion Daily Meta Bull 2X Etf
For “Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway',” Direxion Daily Meta Bull 2X Etf (METU) is linked, with no stored direction, medium confidence. Reason on file: GA selected METU as a RELATED security because its canonical security name directly matches this event's themes: bull. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- MSFU Direxion Daily Msft Bull 2X Etf
In “Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway',” Direxion Daily Msft Bull 2X Etf (MSFU) is linked, with no stored direction, medium confidence. Reason on file: GA selected MSFU as a RELATED security because its canonical security name directly matches this event's themes: bull. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- TECL Direxion Daily Technology Bull 3X Etf
For “Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway',” Direxion Daily Technology Bull 3X Etf (TECL) is linked, with no stored direction, medium confidence. Reason on file: GA selected TECL as a RELATED security because its canonical security name directly matches this event's themes: bull. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
iShares Ethereum Trust ETF (ETHA)
iShares Ethereum Trust ETF (ETHA) is the company in “Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway',” the 21 Sep 2026 this story story.
The link for iShares Ethereum Trust ETF (ETHA) is this: GA selected ETHA as a RELATED security because its canonical security name directly matches this event's themes: ethereum. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
A second company, Direxion Daily Financial Bull 3X Etf (FAS), is listed for a different reason: GA selected FAS as a RELATED security because its canonical security name directly matches this event's themes: bull. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Price levels for iShares Ethereum Trust ETF (ETHA)
ETHA traded between 19.89 and 61.65 across 20 sessions. The latest close on file is 54.10. FAS traded between 136.16 and 161.95 across 20 sessions. The latest close on file is 152.93. GGLL traded between 94.85 and 111.19 across 20 sessions. The latest close on file is 98.86.
A simple score for iShares Ethereum Trust ETF (ETHA)
46 out of 100
“Tom Lee's Bitmine Adds $74M in Ethereum, Declares a Crypto Bull Market 'Underway'” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.