Ethereum news

Crypto markets face a historic Boxing Day options expiry, with more than $27 billion of Bitcoin and Ethereum options set to expire on Deribit—over half of the exchange’s total open interest. Bitcoin options alone amount to $23.6 billion and Ethereum $3.8 billion; call contracts outnumber puts roughly 3:1, signalling a bullish bias. Max‑pain levels sit near $95 k for BTC and $3 k for ETH, while many institutions are rolling positions into January, adding noise. Despite the scale, implied volatility has eased to about 42 %. Post‑expiry flows are expected to steer 2026 direction, with traders closely monitoring key strikes; the outcome may mark a structural reset for the crypto market.

Ethereum’s price fell nearly 3% this week, yet major investors continued to accumulate the second‑largest crypto. BitMine Immersion Technologies bought 67,886 ETH ($201 M) and a day earlier 29,462 ETH ($88 M), totaling 98,852 ETH in one week and pushing its holdings over 4 M ETH. Trend Research, led by Jack Yi of LD Capital, added 46,379 ETH, bringing its portfolio to about 580,000 ETH (~$1.72 B) amid an unrealized loss of roughly $141 M and a stated plan to raise another $1 B for ETH purchases. Other whales also remained active: the “66k ETH Borrow” wallet added 40,975 ETH ($121 M), and Fasanara Capital leveraged 6,569 ETH ($19.7 M) via Morpho. Conversely, sellers surfaced—Arthur Hayes sold 1,871 ETH ($5.5 M) and the Bitcoin OG deposited 100,000 ETH ($292 M) on Binance. Despite these outflows, long‑term selling activity dropped by more than 95%.

Trend Research quietly became one of Ethereum's largest whales by buying 46,379 ETH, second only to SharpLink Gaming and BitMine Immersion Technologies. Not publicly listed, the firm is linked to LD Capital founder Jack Yi who has announced a $1 billion plan to keep buying ETH and urged traders not to short. Trend Research’s rapid accumulation has attracted attention, especially as BitMine disclosed over 4 million ETH—over 3.3 % of circulating supply—and plans to stake a large portion through its “Made in America Validator Network” to earn yield and lower its cost basis. While some holders like ETHZilla and FG Nexus are liquidating ETH to pay debt or buy back shares, Trend Research’s purchase signals a strategic move toward network dominance rather than mere dip buying.

Arthur Hayes, BitMEX co‑founder, has sold over 1,800 ETH in the last week, moving the proceeds into DeFi tokens such as ENA, PENDLE, and ETHFI after a series of Binance trades totaling $5.53 M. The sales follow a broader portfolio rebalancing announced earlier, with Hayes shifting away from ETH toward stablecoins and other assets. Hayes’s holdings now sit at around $74 M, with nearly $48 M—over 60 %—in USDC. His ETH position has dropped from 16,000 ETH in 2022 to just over 3,000 ETH, reflecting a sale of roughly 3,440 ETH since November. The move may signal a cautious stance amid market fear, positioning the portfolio to capitalize on dips as fiat liquidity improves.

In 2025 Bitcoin dominated crypto ETFs, capturing 70‑85 % of the market year‑long as institutional investors viewed it as the primary entry point. Spot Bitcoin ETF volumes fell toward year‑end, yet the 31 bn of combined spot flows to Bitcoin and ETH supported the price and underscored Bitcoin’s role as a macro hedge. Ethereum grew to roughly 15‑30 % of ETF assets, a sign of widening alt‑coin appetite. Public‑company holdings rose from 4.5 mn to 5.09 mn ETH, driven by Tom Lee‑led BitMine Immersion’s ATM strategy, while other altcoins remained peripheral.

Ethereum’s exchange float fell to 10.5% of circulating supply as corporate treasuries, ETFs and staking contracts absorb the bulk of the token. Over 35 million ETH is locked in staking, and institutional holdings now total 10.7% of supply, with Binance, BlackRock and BitMine controlling large shares. The shift from retail hype to institutional infrastructure has left a cultural vacuum: NFT sales and crypto‑search volumes have plunged, while stablecoin and tokenized asset usage on Ethereum has surged. This steady, infrastructure‑driven demand may sustain prices but removes the narrative momentum that fueled the 2021 rally.

Ethereum sees institutional adoption in 2025 with banks and tech firms using its layer‑2 networks for tokenization, driven by regulatory clarity like the GENIUS Act. The Ethereum Foundation shifted its image, engaging enterprises, launching AI collaboration, and hosting business‑focused events.

Spot Ether ETFs recorded $84.6 million in net inflows on Monday, ending a seven‑day outflow streak and lifting cumulative net inflows to about $12.5 billion. XRP ETFs continued an unbroken inflow streak, posting $43.9 million on Monday and a cumulative total above $1.1 billion, indicating a steady positioning strategy. Solana, Chainlink, and Dogecoin ETFs showed mixed flows, with Solana and Chainlink attracting modest inflows and Dogecoin experiencing a decline. Global crypto ETPs posted nearly $952 million in net outflows last week, mainly driven by spot Bitcoin and Ether funds. CoinShares linked the sell‑off to regulatory uncertainty surrounding the Digital Asset Market Clarity Act and large‑holder selling. The data suggest altcoin ETFs are gaining differentiation, but volumes remain too small to offset the broader market trend.

BitMine, led by Tom Lee, reportedly added 29,462 ETH (≈$88 M) to its treasury, though not officially confirmed, after purchasing 98,852 ETH last week. Combined holdings now total 4,066,062 ETH at an average price of $2,991, valuing roughly $12 B at current rates. The firm continues an aggressive buying strategy aiming to capture 5 % of Ethereum’s circulating supply, citing a belief that ETH will reshape finance. Chairman Lee said the holdings bridge Wall Street into blockchain via tokenization. BitMine’s stock fell 0.86 % to $31.09, while Ethereum dropped 2.48 % to $2,951 in the past 24 hours.

Bitmine’s Ethereum treasury now exceeds 4.06 million ETH after a $40 million purchase, bringing total weekly acquisition to nearly 100,000 ETH. At an average price of $2,991, the holding is worth about $12.2 billion. This surpasses the 4 million‑token milestone and marks 67 % of the firm’s goal to own 5 % of total ETH supply. Shares in Bitmine have risen 606 % in six months, and the company plans to launch a staking solution, the Made in America Validator Network, in early 2026. With ETH trading back near $3,000, Bitmine’s position has returned to profit after the October crash.