Bitmine Owns 4.95% of Ethereum: Are ETFs Wrong to Sell?
One Company Now Holds Nearly 1 in Every 20 Ether — While Wall Street's ETFs Keep Selling Co-produced by Daniel Aharonoff and DigitalDan As the chief editor of ethdan.me, I have covered a lot of wild Ethereum milestones, but this one stopped me cold. A single company — Bitmine Immersion Technologies — now owns 6,051,933 ETH. That is 4.95% of all the ether in circulation. Put another way, roughly one out of every twenty ether ever issued now sits in one corporate treasury. And Bitmine is only about 58,000 ETH away from its stated goal of owning a full 5% of Ethereum's supply. Here is the twist that makes this story impossible to ignore: Bitmine kept buying while Wall Street's Ethereum ETFs kept selling. In the week ending October 25, 2026, Bitmine added another 10,452 ETH to its stack. Over roughly the same stretch, U.S. spot Ethereum ETFs bled hundreds of millions of dollars. One side of the market is accumulating at a record pace. The other side is heading for the exits...
