Bitmine Accumulates $29.7M ETH from Galaxy Digital Despite Price Dip; ARK Invest Buys Bitmine Shares?
Tom Lee's bitmineBitmine has continued its strategic accumulation of ethereumETH, acquiring over 9,176 ethereumETH worth approximately $29.74M from galaxy-digital Galaxy Digital's OTC desk. This accumulation occurred despite a recent market downturn, resulting in an immediate unrealized loss for bitmineBitmine, underscoring a strong long-term conviction in ethereumETH. Concurrently,ark-investARK Invest has been observed buying bitmineBitmine shares, suggesting broader institutional interest in entities linked to ethereumETH exposure. The ethereum ETH options market shows mixed sentiment, with both positive and negative outliers in forward implied volatility for different expirations.
Institutional Ethereum Accumulation
A wallet linked to Tom Lee's bitmineBitmine,0x9973...D9f978, has significantly increased its ethereumETH holdings. On November 14, 2025, this wallet received two substantial transfers from galaxy-digitalGalaxy Digital 's OTC wallet, totaling 9,176.38 ethereumETH with a combined value of approximately $29.74M. These transactions, comprising 4,451.04 ethereumETH and 4,725.34 ethereumETH, indicate a strategic, large-scale accumulation. Despite a recent decline in ethereumETH price from highs around $3.59K on November 10th to approximately $3.18K at the time of the transfers, bitmine Bitmine has not sold any of these newly acquired assets, resulting in an immediate unrealized loss of approximately $580.77K or -1.95%. This behavior suggests a strong long-term conviction in ethereumETH 's value, as they are actively buying into market weakness.
Ethereum Options Market Sentiment
The ethereum ETH options market on deribitDeribit is exhibiting mixed signals. A positive outlier in forward implied volatility for the December 5, 2025, and March 27, 2026, expirations suggests increased bullish sentiment or hedging activity. Conversely, a negative outlier in forward implied volatility for the June 26, 2026, expiration indicates a degree of bearish sentiment or hedging against potential downside. This divergence in sentiment across different expiry dates highlights uncertainty among options traders regarding ethereumETH's near-term versus longer-term price trajectory.
Broader Institutional Investment Trends
Further supporting the narrative of institutional interest in crypto-related entities,ark-investARK Invest has resumed its crypto buying spree, which includes acquiring shares of
bitmineBitmine. This broader investment strategy by ark-investARK Invest in companies like bitmine Bitmine and bullish-comBullish.com indicates a continued belief in the growth potential of the digital asset sector, even amidst fluctuating market conditions. This aligns with the observed ethereumETH accumulation by bitmine Bitmine, suggesting coordinated or at least correlated institutional bullish outlook on the ecosystem.