Recent data from blockchain analytics reveals that two significant players, Tom Lee’s BitMine and Donald Trump’s World Liberty Financial (WLFI), have notably increased their holdings in Ethereum during a price dip, investing close to $140 million in the process. This aggressive accumulation underscores a strategic belief in Ethereum’s potential as the preeminent altcoin.
Strategic Moves by BitMine and WLFI
As per insights from the blockchain analytics platform Lookonchain, BitMine executed a significant purchase of 106,485 ETH, valued at approximately $470.51 million, following Ethereum’s downturn from its 2025 peak of $4,500. Concomitantly, the WLFI ventured into the market, acquiring 1,911 ETH for about $8.6 million during this period. Currently, BitMine possesses an impressive portfolio of 1.3 million ETH, amounting to $5.75 billion.
BitMine appears to be solidifying its position as an Ethereum powerhouse. Prior to the major buy, it acquired an additional 28,649 ETH, translating to nearly $129.88 million. These transactions were facilitated through Galaxy Digital’s over-the-counter network. Additionally, just days before this acquisition, the firm also invested $158.47 million in ETH, according to Arkham data.
In the grand landscape of Ethereum treasury holders, BitMine stands tall as the largest, significantly outpacing the second-largest, SharpLink, which holds 728,800 ETH, valued around $3.16 billion. Tom Lee has publicly stated ambitions to hold at least 5% of Ethereum’s total supply, alongside plans for a substantial $20 billion stock offering to support this vision.
Similarly, WLFI showcases bullish sentiment towards Ethereum. Following its latest acquisition, Donald Trump’s son Eric Trump has reiterated the message of “buy the dip.” In February, while ETH hovered around $2,800, he actively encouraged investors to capitalize on the opportunity. Throughout various market corrections, his stance remained consistent, urging everyone to invest as the altcoin showed resilience, surging over 66% within a recent 90-day window and maintaining a 27% increase year-to-date (YTD).
Wider Accumulation Trends Among Whales
Beyond the notable actions of BitMine and WLFI, several other large-scale investors, or whales, have been quietly acquiring Ethereum amidst the market’s downward movement. Notably, Lookonchain has identified a “mysterious institution” engaging in ETH purchases. This entity has recently spawned three new wallets and withdrawn a staggering 92,899 ETH, valued at $412 million, from Kraken within just a week.
Moreover, two newly established wallets withdrew an additional 25,684 ETH, approximately $114.3 million, from FalconX right at the peak of Ethereum’s recent low. Amid these bullish accumulations, the Ethereum Foundation has opted to liquidate some of its holdings, selling 7,294 ETH for around $33.25 million.
As of the latest reports, Ethereum is trading near the $4,340 mark, experiencing a dip of over 3% in the past 24 hours, according to CoinMarketCap data.
