#以太坊投资机会 BitMine increased its ETH holdings by 102,259 over the past week, now holding a total of 39.67 million, approaching nearly 4% of the total Ethereum supply—this data point is worth noting.

There are three key signals: First, institutions continue to buy within a stable price range, indicating their fundamental outlook remains unchanged; second, Tom Lee mentioned that staking these ETHs now yields over $1 million daily, which means institutions are not only optimistic about price appreciation but also focusing on yield generation; third, the claim of "never selling" essentially reinforces a long-term holding signal, reducing market expectations of potential selling pressure.

From an on-chain perspective, large holdings increasing typically lead market sentiment by 2-4 weeks. Considering the holding characteristics of treasury-type institutions like BitMine—whose buy decisions are based on in-depth research rather than short-term volatility—the current accumulation pace may be hinting at a relatively optimistic outlook for the first half of 2025.

However, it’s important to distinguish: increased institutional holdings ≠ confirmed short-term buy signals. This is more of a mid-term asset allocation indicator. For investment research purposes, it’s necessary to also observe whale address flows, derivatives holdings changes, and capital movements on mainstream exchanges. Only when these three factors resonate can a stronger strategic judgment be formed.