Ethereum exchange-traded funds (ETFs) recorded their worst month since launch with $1.4 billion in net outflows. The institutional exodus contrasts with aggressive accumulation by corporate treasuries, led by BitMine Immersion Technologies.
What Happened: Record Redemptions
Crypto analyst Milk Road reported that Ethereum ETFs experienced their largest single-month withdrawal since their debut, totaling approximately $1.4 billion in net outflows.
The redemption wave coincided with significant purchases by Digital Asset Treasuries.
BitMine Immersion Technologies added more than 300,000 ETH worth nearly $800 million to its holdings during the period, according to market data.
Crypto trader Bull Theory noted that BitMine acquired 138,452 ETH valued at $437.7 million in a single week. The purchase expanded the company's position to 3.86 million ETH, worth $12.4 billion and representing 3.2% of the cryptocurrency's circulating supply.
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Why It Matters: Infrastructure Development
Major financial institutions are building tokenization infrastructure on Ethereum's network. BlackRock, managing $13.5 trillion in assets, launched tokenized funds on Ethereum and filed for a staked ETH product.
JPMorgan ($4 trillion in assets), Deutsche Bank ($1.1 trillion), and Standard Chartered ($800 billion) are developing tokenization and decentralized finance systems using Ethereum and Layer-2 networks. Institutions including Amundi, HSBC, BNY Mellon, Coinbase, Kraken, and Robinhood use Ethereum infrastructure for custody, settlement, and scaling operations.
BitMine expects to generate more than $400 million annually from staking its Ethereum holdings. Tom Lee projects Ethereum could reach $12,000 in 2026 as staking demand and institutional tokenization expand.
"A Bitcoin miner is now the largest Ethereum whale, Wall Street is building on ETH, and treasuries are shifting toward yield," Bull Theory stated. "ETH is quickly becoming part of the Global Financial System."
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