In a bold move that’s catching market attention, Tom Lee’s Bitmine has purchased 7,660 Ethereum (ETH) from Galaxy Digital, the crypto investment firm led by Mike Novogratz. This large-scale acquisition reinforces a growing trend: institutions are getting serious about ETH.
While Bitcoin has been the main focus of institutional inflows in recent months, this transaction highlights that Ethereum is far from being ignored. Bitmine’s latest purchase is not just about numbers — it’s a statement of confidence in Ethereum’s long-term value.
Why Bitmine Is Bullish on ETH
Tom Lee, a well-known market strategist and co-founder of Fundstrat, has consistently expressed optimism about Ethereum’s potential. He has cited Ethereum’s dominance in smart contracts, its pivotal role in powering decentralized finance (DeFi), and the network’s continuous evolution through upgrades.
With this ETH purchase, Bitmine is clearly positioning itself ahead of what it expects to be a major upside phase — possibly driven by institutional adoption, Ethereum ETF developments, or increased usage across the Layer 2 ecosystem.
NOW: Tom Lee’s Bitmine bought 7,660 $ETH from Galaxy Digital. pic.twitter.com/Jtcvhbn7bg
— Cointelegraph (@Cointelegraph) November 1, 2025
Galaxy Digital’s Role in Institutional Liquidity
Galaxy Digital, one of the top crypto investment firms, facilitated the sale, highlighting its growing role as a liquidity provider for large institutional trades. These kinds of over-the-counter (OTC) transactions allow big players like Bitmine to enter the market without triggering volatility on exchanges.
The fact that Galaxy is moving large amounts of ETH off its books could also suggest a rebalancing toward Bitcoin or cash ahead of expected market moves — another subtle signal to watch.