#数字资产市场洞察 Tom Lee makes a big move into Ethereum: Institutions are quietly accumulating

By the end of 2025, one of the most noteworthy trends in the crypto market is this — a well-known Wall Street analyst is aggressively accumulating ETH through their fund.

Numbers speak:
• Current holdings are close to 4 million ETH, accounting for 3.2% of the total supply, with a market value exceeding $13 billion
• Bought over 100,000 ETH in the past seven days, with a single largest order in December surpassing $400 million
• Publicly stated goal: to hold 5% of the total ETH supply

This strategy directly mirrors the long-term belief in Bitcoin held by the founder of a leading company, placing them among the world's largest public crypto asset holders.

Why is there such confidence in Ethereum? The key points are three:

**Technical**: The Fusaka upgrade has just been completed, significantly improving network scalability and operational efficiency. The window for institutional funds to accelerate their entry has now opened.

**Industry**: Asset tokenization (RWA) is the next trillion-dollar track, with Ethereum becoming Wall Street’s new infrastructure. This potential far exceeds Bitcoin’s single role as "digital gold."

**Macro**: Federal Reserve policies are turning dovish, regulatory attitudes are becoming more friendly, and crypto assets have fallen out of the reasonable accumulation range.

Market expectations suggest that Ethereum could reach $7,000–$9,000 early in 2026, or even higher. Interestingly, despite a current unrealized loss of $3 billion, this big player’s style remains "buy on dips without hesitation" — a straightforward, bold conviction.

In a market full of cautious voices, such contrarian heavy accumulation often hints at something significant. If their prediction materializes, they could become the "Ethereum version of a major holder." The institutions’布局 has already begun—what’s your judgment?