Key Insights
- Today’s Ethereum news centers on Bitmine’s latest 28,086 ETH buy.
- Ethereum ETFs posted $48.34 million in daily outflows but stayed positive over seven days.
- Daan Crypto Trades says ETH/BTC keeps its bullish structure while holding above 0.03.
Ethereum news today centers on Bitmine after the company added another 28,086 ETH, worth about $69.44 million, this week. The purchase raised its holdings to 5,929,198 ETH, valued at about $14.66 billion. That position represents about 4.9% of Ethereum’s 122 million token supply. Meanwhile, Ethereum trades near $2,492 after recovering from a session low of $2,442.98.
ETH moved between $2,442.98 and $2,505.13 during the past 24 hours. Buyers now face immediate resistance between $2,500 and $2,505. A sustained move above that area would place $2,520 in focus.
Ethereum News: Bitmine ETH Holdings Reach 5.93 Million
Bitmine valued its Ethereum holdings using a $2,495 ETH price from Coinbase. Beyond ETH, the company also holds 211 Bitcoin and several other assets.
Additionally, Bitmine owns a $180 million stake in Beast Industries. It also holds a $91 million stake in Eightco Holdings. Cash and marketable securities total another $593 million.
Chairman Tom Lee also connected Bitmine’s stock performance with recent crypto market gains. According to Lee, four Russell 1000 crypto-related stocks rank among its top 21 performers since June 30.
Notably, Bitmine ranked fourth among those names, gaining 99% during that period. By comparison, the Russell 1000 benchmark gained about 3%.
Lee also said Ethereum was the best-performing macro asset from the third quarter through last Friday. According to his figures, ETH outperformed the S&P 500 by 5,430 basis points.
Meanwhile, Lee placed ETH, Bitcoin, and Solana among the three best-performing assets since June 30. His outlook centers on additional institutional crypto participation later in 2026.
Ethereum ETFs Post Daily Outflows
Despite Bitmine’s latest purchase, Ethereum ETFs recorded negative daily flows. Lookonchain data showed one-day net outflows of 19,667 ETH, worth about $48.34 million.
However, seven-day Ethereum ETF flows stayed positive. The products recorded net inflows of 15,939 ETH, valued at about $39.18 million.
Bitcoin ETFs showed stronger flows during the same period. Lookonchain recorded daily inflows of 398 BTC, worth about $31.07 million. Seven-day Bitcoin ETF inflows reached 8,937 BTC, valued near $698.42 million.
Alongside those flows, Tom DeMark expects Ethereum to resume its previous upward move during the coming weeks. DeMark serves as a capital markets adviser to Bitmine.
His analysis focused on Ethereum’s August price structure. ETH moved sideways without breaking lower before a 12-day technical metric expired. DeMark interpreted that development as supporting renewed upside.
Lee also identified several events he expects to shape crypto demand later in 2026. These include the expected CLARITY Act vote in mid-September.
Additionally, Lee pointed to renewed crypto buying among Korean investors. He also expects the four-year crypto cycle to bottom within several weeks. Tokenization and agentic AI were other factors included in his outlook.
ETH/BTC Holds Above the 0.03 Level
On the technical side, Daan Crypto Trades said Ethereum continues showing strength against Bitcoin. The ETH/BTC pair trades near 0.0315, meaning one Ether equals roughly 0.0315 Bitcoin.
The ratio has moved higher since bottoming near 0.0256 in June. Daan’s chart shows ETH/BTC breaking above a long-term descending channel during July.
Afterward, the pair reclaimed its daily 200-day moving average and exponential moving average. Those indicators currently sit near 0.0292 and 0.0298, respectively.
An August rally then pushed ETH/BTC above 0.033 before sellers triggered a pullback. Even so, the pair has formed higher lows above both reclaimed averages.
Daan identifies 0.03 as the main level protecting the current structure. Holding that level keeps 0.0320 and 0.0335 in focus.
However, a daily close below 0.03 would weaken the relative-strength setup. Further losses below both averages could expose the former breakout area near 0.0284.
