Bitmine, chaired by Tom Lee, has purchased an additional $118 million worth of Ethereum, increasing its holdings to $12.5 billion despite Ethereum struggling to remain above $3,000 since November. Ethereum's increasing adoption by Wall Street institutions like BlackRock, JPMorgan, and Morgan Stanley underscores its growing importance in tokenisation and traditional finance convergence. The ongoing institutional interest, including large staking investments and tokenised funds, points to a bullish outlook despite a crypto market still down from its October highs.

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