Institutional Push For Ethereum : BitMine And SharpLink Move

Ether crosses a decisive milestone, flirting with $4,500 and narrowing the gap with its all-time high to less than $500. Indeed, behind this surge, a colossal accumulation strategy led by BitMine Immersion Technologies disrupts the market balance. In its wake, SharpLink and other institutional players massively strengthen their positions, propelling ETH to the rank of a must-have reserve asset alongside Bitcoin and confirming its central role.

BitMine Stresses the Market with a Colossal Fundraising

While Ethereum leads ETP inflows, BitMine Immersion Technologies officially announced this Tuesday to the Securities and Exchange Commission (SEC) its intention to raise up to $20 billion more to buy Ether.

This new plan brings its total dedicated ETH funds to $24.5 billion, including the $4.96 billion already committed. In the filed document, the company specifies : “with this additional prospectus, we increase the total amount of common shares that may be sold under the selling agreement to $24.5 billion”.

Here are the key elements of this announcement :

• The targeted total amount : $24.5 billion intended for ETH acquisition, including $20 billion in new capital ;

• The current situation : $4.96 billion already invested in Ether ;

• Immediate market effect : +6 % on ETH price ($4,457) and +5.6 % on BitMine stock in one day ;

• The strategic goal : reach up to 5 % of the total ETH supply.

Some analysts already compare Tom Lee’s strategy, BitMine’s president, to Michael Saylor’s with bitcoin. Michaël van de Poppe mentions “a movement comparable to the Bitcoin ETF launch” and anticipates a new ATH for the ETH price, followed by a consolidation phase.

https://twitter.com/CryptoMichNL/status/1955266773055328596

Keith Alan, co-founder of Material Indicators, even believes that a return to the 21-day simple moving average ($3,822) would be a gift for crypto investors.

SharpLink Joins the Dance and the Treasure Hunt Intensifies

On the same day, SharpLink, a crypto treasury company, announced it finalized a $389 million fundraising through the sale of common shares to institutional investors.

“We intend to dedicate almost all of the cash obtained to acquiring ETH”, states the SEC filing, while specifying that part of the funds will be used for operational needs and ongoing expenses.

With 598,000 ETH in its wallet, valued at $2.64 billion, SharpLink asserts itself as the second-largest institutional crypto holder behind BitMine.

Indeed, according to Standard Chartered, Ethereum-oriented treasuries could eventually control up to 10% of the total ETH supply, compared to about 1% at the end of July. Institutional interest in Ether is also boosted by the growth of real asset tokenization, seen as a strategic application of the Ethereum blockchain.

The simultaneous offensive from BitMine and SharpLink marks a strategic turning point for Ethereum, whose role as an institutional reserve asset is strengthening. If this momentum continues, it could drive ETH to new records, but also redefine the supply distribution in favor of institutional players capable of sustainably influencing the crypto market.