Ethereum Treasury FOMO: Bitmine Surpasses SharpLink Amid Peter Thiel’s Backing
ethereum Market Cap Surges by $150 Billion Amidst Unprecedented Rally
ethereum‘s Remarkable Price Surge and Market Dynamics
In an extraordinary turn of events, ethereum has experienced a remarkable rally over the past two months, boosting its market capitalization by over $150 billion since July. This surge has ignited a competitive atmosphere among public companies, with firms like Bitmine Technologies and SharpLink Gaming acquiring more than $600,000 worth of ETH from the market this month, contributing to the ongoing price increase.
BlackRock has also entered the fray, reporting inflows exceeding $2.1 billion in just ten days. The asset management giant has sought approval from the U.S. Securities and Exchange Commission (SEC) for staking, further intensifying the market’s momentum. As of the latest updates, ethereum‘s price has risen by 7.8%, reaching $3,600, with ETH futures open interest surpassing $51.27 billion.
Major Short Squeeze Triggered by ethereum‘s Price Surge
The recent rally in ethereum has not only increased its market cap but has also led to a significant short squeeze. Data from Zerohedge indicates that net leveraged short positions on ethereum hit an all-time high as July approached, exceeding levels seen in February 2025 by approximately 25%. In a dramatic turnaround, ethereum‘s price has surged over 50% in less than a month, forcing many short positions to liquidate and indicating a substantial shift in market sentiment.
This price movement has already resulted in billions of dollars in short liquidations. Should ethereum‘s price rise another 10% to $4,000 or higher, an additional $1 billion in short positions could be eliminated.
Bitmine Technologies Emerges as Leading ETH Holder
The competition for ethereum reserves is intensifying, with Bitmine Technologies now surpassing SharpLink Gaming as the largest holder of ETH. The ethereum Foundation has dropped to third place in this ranking. This shift follows tech billionaire Peter Thiel’s $500 million investment in Bitmine, which has pivoted towards establishing its own strategic ETH reserve.
Bitmine Technologies has announced that it has accumulated over 300,000 ETH, valued at more than $1 billion. The company aims to acquire and stake 5% of ethereum‘s total supply, which would amount to a staggering $20 billion at current market prices. Meanwhile, SharpLink Gaming has increased its holdings by an additional 18,711 ETH, valued at around $65 million, and is planning to raise up to $5 billion in new funding to expand its ethereum portfolio.
BlackRock’s ethereum ETF Sees Record Inflows
The BlackRock iShares ethereum Trust (ETHA) has reported its highest daily inflow of $544 million, coinciding with the asset manager’s recent application for staking approval for its ethereum ETFs with the SEC. Since its inception, BlackRock’s ETHA has attracted over $7.6 billion in net inflows, with more than $3 billion coming in just the last two months.
Overall, net inflows across all U.S. ETF issuers have also surpassed $7.1 billion, reflecting a growing interest in ethereum and related investment vehicles.
This article aims to provide a comprehensive overview of the recent developments in the ethereum market, focusing on the significant price movements, institutional interest, and the competitive landscape among major holders.
