Ethereum attracts Wall Street as BitMine builds ETH treasury

TLDR

• BlackRock boosts stake in BitMine, catalyzing renewed market attention.
• Wall Street ramps up investment activity targeting BitMine shares.
• Institutional momentum gathers as BitMine attracts accelerated capital inflows.

Wall Street institutions are adding exposure to BitMine Immersion Technologies, reinforcing the company’s position as a proxy for institutional interest in Ethereum. The renewed activity around BitMine aligns with broader growth in institutional ETH exposure.

BlackRock’s Ethereum holdings have recently expanded, a shift that coincides with rising whale accumulation in ETH and increases in large-bank ETF exposure, as reported by Analytics Insight. That backdrop has sharpened focus on BitMine’s role as an ETH-centric corporate treasury and staking operator.

Why it matters: BitMine’s Ethereum treasury strategy and institutional ETH exposure

BitMine’s model centers on acquiring, holding, and staking Ethereum as a core corporate treasury asset, rather than running a traditional proof-of-work mining business. The aim is to convert balance sheet exposure into an on-chain position that can potentially earn staking rewards while remaining aligned with institutional ETH adoption.

This approach concentrates risk in a single asset while introducing protocol and validator dependencies, but it may also connect the company to emerging use cases such as stablecoin settlement and tokenized real-world assets on Ethereum. Execution quality around custody, validator operations, and treasury risk management remains pivotal.

Leadership has framed the shift as aligned with growing institutional interest in Ethereum. “Clearly Wall Street is getting ‘ETH-pilled,’” said Jonathan Bates, Chief Executive Officer of BitMine.

Immediate impact: BMNR up ~6% with $1.03B volume spike

Shares of BitMine (BMNR) rose about 6% with trading volume near $1.03 billion, based on BitMine Immersion Technologies’ Feb. 13 trading update. The company has also disclosed multi-million-ETH holdings and significant staking activity, alongside unrealized losses tied to rapid accumulation; its shares had previously fallen sharply over the past six months before the latest rebound.

Within those disclosures, the company reported total ETH holdings in the multi-million range, including a large staked ETH balance, and noted plans to roll out its MAVAN staking solution in Q1 2026. The figures underscore how BitMine’s equity remains a levered expression of institutional ETH exposure and treasury concentration risk.

In broader market context at the time of this writing, Bitcoin traded around $70,185 with bearish sentiment, very high 12.37% volatility, an RSI near 38.69, and 10 green days out of the last 30, based on market data.