Ethereum
This page lists the latest Ethereum news and market analysis. Browse articles, expert insights, and updates in this category on JrKripto. Stay informed with in-depth coverage of cryptocurrency trends and developments.
News
Ethereum News
Ethereum News
Browse all Ethereum related articles and news. The latest news, analysis, and insights on Ethereum.
Monday Classic: Institutional Bitcoin and Ethereum Purchases Continue Unabated
Aggressive accumulation strategies by institutional companies in the cryptocurrency market continue to attract attention. According to the latest data, large-scale purchases have taken place in both Bitcoin and Ethereum. Bitcoin-focused treasury company Strategy increased its total BTC reserves to over 750,000 with a new purchase, while Ethereum-based treasury company Bitmine Immersion Technologies also continued to increase its holdings.Strategy's purchase of 22,337 BTCBetween March 9-15, Strategy purchased a total of 22,337 Bitcoin at an average price of $70,194. This transaction, worth approximately $1.57 billion, was one of the largest purchases the company has ever made. According to the filing with the US Securities and Exchange Commission (SEC), this purchase was recorded as the fifth largest Bitcoin purchase by the company to date. With this latest purchase, Strategy's total Bitcoin holdings reached 761,068 BTC. This reserve, worth approximately $56 billion at current prices, represents more than 3.5% of Bitcoin's total supply. The company purchased these Bitcoins at an average cost of $75,696, bringing the total expenditure to approximately $57.6 billion.Strategy's Bitcoin purchases are primarily financed through the sale of company shares. In the latest transaction, the company used proceeds from the sale of Class A shares (MSTR) and perpetual preferred shares (STRC). Last week, the company sold approximately 2.83 million MSTR shares worth about $396 million, while raising $1.18 billion from the sale of STRC shares.The company also runs a long-term capital plan to finance its Bitcoin purchases. Under this strategy, called the "42/42 plan," the company aims to raise a total of $84 billion in capital by 2027. It is stated that a large portion of these funds will be used to purchase Bitcoin. Strategy's co-founder and chairman, Michael Saylor, as usual, hinted at the new purchase in advance through social media. Sharing the company's Bitcoin purchase chart, Saylor alluded to the phrase "orange dots," noting that STRC shares are playing an increasingly significant role in the company's weekly Bitcoin purchases.Bitmine Continues Ethereum PurchasesInstitutional purchases are not limited to Bitcoin. A similar accumulation strategy is emerging on the Ethereum side as well. Bitmine Immersion Technologies continued to grow its Ethereum reserves last week by purchasing 60,999 ETH. This transaction, worth approximately $140 million, was recorded as the company's largest token-based purchase of the year.With this latest purchase, the company's total Ethereum holdings reached 4,595,562 ETH. At current market prices, the value of this reserve is over $10 billion. Bitmine also announced that it continues to hold $1.2 billion in cash on its balance sheet. Staking revenue is also a significant part of the company's strategy. Bitmine currently has 3.04 million ETH in its staking program, generating approximately $180 million in annual revenue. It is estimated that annual revenue could reach up to $272 million when more tokens are locked in staking. Bitmine Chairman Tom Lee stated that despite recent increases in geopolitical tensions, crypto assets have performed strongly compared to other markets. According to Lee, rising energy prices, in particular, are increasing global growth concerns, leading investors to shift towards growth-oriented assets such as technology stocks and crypto assets.
The Crypto Market Holds Its Breath: Awaiting the Huge Option Expiration Date and US Inflation Data
The crypto market is in a cautious waiting period ahead of today's large options expiration and critical inflation data from the US. Approximately $2.2-2.3 billion worth of options contracts linked to Bitcoin (BTC), Ethereum (ETH), and XRP expire today, while investors are also closely watching the direction the US PCE (Personal Consumption Expenditures) inflation data will give to the market.Options Market: Large Amounts of Bitcoin and ETH ExpirationSuch large-scale expirations in the options market can usually lead to increased volatility in the short term. However, analysts note that this week's expiration is relatively smaller compared to previous periods and may not have a dramatic impact on spot markets.According to Deribit data, approximately 27,000 Bitcoin options contracts will expire today. The total nominal value of these contracts is approximately $1.9 billion. The put/call ratio of 0.97 in Bitcoin options indicates that expectations for both bullish and bearish movements in the market are quite balanced.On the Bitcoin side, the "max pain" level, where options would cause the most losses for investors, is estimated at approximately $69,000. This level is slightly below Bitcoin's current price. The majority of open options positions are concentrated in put contracts between $55,000 and $60,000, while call contracts are concentrated in the $75,000-$80,000 range. However, options data indicates that there is approximately an 86% chance that Bitcoin will close above $71,000. On the Ethereum side, approximately 185,000 to 186,000 option contracts will expire today. The total value of these contracts is over $380 million. The put/call ratio in Ethereum options is around 1.2, indicating that bearish positions are somewhat more prevalent. The calculated max pain level for ETH is around $2,000. Despite this, options data reveals that there is over a 70% chance that the price will close above $2,100. On the XRP side, the total value of expiring options is estimated at approximately $8.8 million. The put/call ratio is at a very low level of 0.13, indicating that investors are predominantly taking long positions. The maximum pain level for XRP is around $1.40. The fact that the current price is slightly above this level suggests that investors expect a move towards the $1.50 level in the short term.US Inflation Data in the SpotlightAnother development closely followed in the crypto market, as much as option expiry, is the PCE inflation data to be released in the US. This data will be released at 15:30 Turkish time. The data, published by the Bureau of Economic Analysis of the US Department of Commerce, is considered an important indicator, especially for the Federal Reserve's monetary policy.According to economists' expectations, core PCE inflation is expected to come in at 0.4 percent on a monthly basis and 3.1 percent on an annual basis. Headline PCE is expected to increase by 0.3 percent monthly and remain around 2.9 percent on an annual basis. These data may indicate that inflation remains relatively stable despite rising energy prices. On the other hand, US President Donald Trump has called on Fed Chairman Jerome Powell to cut interest rates ahead of next week's FOMC meeting. Trump argued that an urgent rate cut is necessary, citing increased inflation risks, particularly due to rising oil prices. However, CME FedWatch data shows that a large portion of the market expects the Fed to keep rates unchanged at its next meeting. The tool prices the probability of rates remaining unchanged at 99%. Goldman Sachs also updated its forecasts, suggesting the first rate cut could come in September, followed by a second in December. In addition to macroeconomic developments, geopolitical factors continue to impact the crypto market. The US granting a 30-day sanctions exemption to some countries to purchase Russian oil created a sense of relief in global energy markets. Following this development, Bitcoin briefly reacted upwards, approaching the $72,000 level.
A New ETF Offering Staking Income for Ethereum is Launching
BlackRock, one of the world's largest asset management companies, continues to expand its portfolio of cryptocurrency investment products. The company has launched a new exchange-traded product (ETP) that offers investors both direct exposure to the Ethereum price and the opportunity to earn staking income. The product, which has begun trading on Nasdaq, is accessible to investors under the name iShares Staked Ethereum Trust ETF (ETHB).The new product aims to track the spot Ether (ETH) price while simultaneously generating additional income by using a portion of the fund's Ethereum holdings in staking operations. Thus, investors will be able to share not only in price movements but also in staking rewards earned by locking assets on the Ethereum network.BlackRock's global head of digital assets, Robert Mitchnick, stated that the new product opens a different door for participation in the Ethereum ecosystem, and that combining spot ETH access with staking income in a single investment vehicle offers a significant opportunity for investors. The majority of staking revenue will be distributed to investorsAccording to the fund's structure, 82% of the rewards earned from staking operations will be transferred to investors as monthly payments. The remaining 18% will be shared among fund management, custody services, and staking infrastructure providers.According to the prospectus prepared by BlackRock, the ETHB fund will include 70% to 95% of its Ethereum assets in staking operations. This rate aims to both contribute to network security and generate sustainable staking income for investors.The fund's custody services will be provided by Coinbase and Anchorage Digital. It was also stated that companies such as Figment Inc., Galaxy Blockchain Infrastructure, and London-based Attestant Limited will act as validators in staking operations.It was announced that Coinbase will take a basic staking fee of 10% of the rewards within the scope of staking services. However, this rate will decrease to 6% if the fund's assets under management reach $20 billion.Competition is heating up: Grayscale and other fundsBlackRock's new product seems set to increase competition in the Ethereum staking ETF market. Grayscale stands out as the company's biggest competitor. Grayscale offers two different products that provide staking income to investors: Ethereum Mini Trust and ETHE. In Grayscale's Mini Trust product, approximately 94% of staking rewards are transferred to investors, while in the ETHE fund, this rate is 77%. However, ETHE's 2.5% management fee is considered quite high compared to BlackRock's ETHB fund. In ETHB, the standard sponsor fee is set at 0.25%, but thanks to a discount for the first year, this rate drops to 0.12% for the first $2.5 billion in assets. On the other hand, there is another product that entered the market before BlackRock and Grayscale in the Ethereum staking-themed ETF race. Launched in September 2025 by REX-Osprey, the ETH+ Staking ETF was one of the first US-based funds to offer investors staking income. However, this product is structured on a "fund of funds" model, with a significant portion of its assets distributed among other Ethereum mutual funds. BlackRock's existing crypto investment products also include iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). IBIT is the largest product in the Bitcoin ETF category with assets exceeding $55 billion under management. ETHA, with approximately $6.5 billion, holds a significant share of the Ethereum ETF market.
Strategy Buys More BTC Again, Bitmine Expands Its ETH Reserves
In the cryptocurrency market, the aggressive accumulation strategies of institutional investors continue to attract attention. Strategy, one of the largest companies holding Bitcoin on its balance sheet, further expanded its reserves with new purchases made in the past week. Meanwhile, Bitmine Immersion Technologies continues its accumulation of Ethereum, creating one of the largest ETH holdings globally.US-based Strategy announced that it purchased a total of 17,994 BTC between March 2nd and 8th. According to the 8-K report submitted to the US Securities and Exchange Commission (SEC), these purchases amounted to approximately $1.28 billion. Strategy added these Bitcoins to its portfolio at an average price of $70,946 per BTC. With this latest purchase, the company's total Bitcoin holdings reached 738,731 BTC. Based on current prices, the market value of this reserve is approximately $50 billion. The total cost of Strategy's Bitcoin purchases to date, including transaction fees, is estimated at approximately $56 billion. This means the company's average purchase price is around $75,862.The amount of Bitcoin held by Strategy corresponds to more than 3.4% of Bitcoin's maximum fixed supply of 21 million. However, considering current price levels, the company's portfolio contains approximately $6 billion in unrealized losses.Bitcoin purchases financed by share salesThe company used the proceeds from share sales to finance its recent Bitcoin purchases. Last week, Strategy sold 6,327,541 MSTR shares, raising approximately $899.5 million. It is stated that there is still capacity to sell $6.71 billion worth of shares under the program.In addition, the company sold 3,776,205 STRC preferred shares, raising another $377.1 million. There is also an additional sales potential of approximately $3.16 billion in the STRC program.Strategy has different preferred share programs to support its Bitcoin purchases. These include perpetual preferred equity programs called STRK, STRC, STRF, and STRD. The total size of these programs is over $30 billion.The company also plans to secure funding under its “42/42 plan,” which aims to raise a total of $84 billion in capital for Bitcoin purchases by 2027.Michael Saylor, co-founder and chairman of the board of Strategy, stated on his social media account before the new purchase announcement, “The second century is beginning.” This statement was interpreted as a reference to the company’s more than 100 Bitcoin purchase rounds to date. Bitmine stands out on the Ethereum sideInstitutional crypto accumulation is not limited to Bitcoin. Bitmine Immersion Technologies is one of the leading companies rapidly growing its Ethereum reserves.According to the company’s announcement on March 8th, Bitmine purchased 60,976 ETH in the last week. Thus, the company’s total Ethereum holdings reached 4,534,563 ETH. Based on a price of approximately $1,965 per Ethereum, the value of this reserve reaches billions of dollars.Bitmine management stated that this purchase rate is above the company's average accumulation level of 45,000–50,000 ETH in recent weeks. The company stated that it considered the recent market pullback as a buying opportunity.According to current data, Bitmine holds approximately 3.76% of the circulating Ethereum supply. The company aims to bring this rate closer to its internal target of 5% supply share.Staking revenues are growingStaking operations constitute a significant part of Bitmine's Ethereum strategy. According to the company's data, a total of 3,040,483 ETH is included in the staking system. This amount is worth approximately $6 billion.It is estimated that these staking activities generate approximately $174 million in revenue annually. It is stated that this figure could reach up to $259 million when the staking infrastructure is fully scaled.The company is also continuing to develop its validator infrastructure called "Made in America Validator Network (MAVAN)". This system aims to provide a dedicated infrastructure for large-scale Ethereum validation processes.
$2.6 Billion Worth of BTC and ETH Options Expire Today
Today, attention in the cryptocurrency markets is focused on a large derivatives contract expiry. Option contracts for Bitcoin and Ethereum, totaling approximately $2.6 billion, expire today. This development is being evaluated alongside data showing investors maintaining a cautious stance despite the recent price recovery.Bitcoin enters the expiry date above approximately $70,000, while Ethereum is trading around $2,070. The main question in the market is whether this large option expiry will create short-term price volatility.Bitcoin options make up the majority of the expiryBitcoin constitutes the majority of the option contracts expiring today. Approximately 31,700 Bitcoin option contracts have reached expiry, with a total theoretical value of approximately $2.2 billion.The put/call ratio, one of the most important indicators in the options market, is at 1.7. This ratio shows that "put" options, representing a bearish outlook, are significantly higher than "call" options, representing a bullish outlook. In other words, many investors have taken positions against the possibility of prices falling in the short term. Another important level in the Bitcoin options market is the "max pain" point, calculated at $69,000. This level represents the price at which most option contracts expire worthless and often creates a short-term pull effect on the price on expiry dates.The fact that Bitcoin's spot price is approximately $1,700 above this level raises the question of whether the price will move towards this level as the expiry time approaches. The picture is more balanced on the Ethereum sideAlthough the option expiry date on the Ethereum side is smaller compared to Bitcoin, it is still of considerable size. Approximately 192,000 Ethereum option contracts expire today, and the total value of these contracts is around $380-400 million. The put/call ratio in Ethereum options is at 0.9, meaning the market is more balanced compared to Bitcoin. The "max pain" level set for ETH is approximately $1,950, which is about $120 below the current price.The total value of open positions in Ethereum options is approximately $7.5 billion.Cautious positioning despite the riseData from the options market shows that despite the recent recovery in prices, investors are not expecting a strong rise. According to the derivatives data platform Greeks.live, the selling of call options in particular has been noteworthy in the last two days.Investors selling call options aim to earn premium income with the expectation that the price will not rise above a certain level. This is generally interpreted as a sign that confidence in the upward momentum in the market is limited.
ETH Comments and Price Analysis - March 2, 2026
ETH Technical AnalysisOn ETH, price is still trading inside that long-term triangle structure. During the latest sharp drop, it extended to the lower band of the triangle and reacted from there. In formations like this, intraday wicks are common. What truly matters is whether weekly closes remain inside the triangle.At the moment, price appears compressed within the 1810 – 2130 range. The 1810 level acts as the structural base. As long as this area holds, the market can continue attempting upside moves. If price establishes acceptance above 2130, the first level to watch becomes 2254. A break there opens the path toward 2620. Beyond that, the 3045 – 3213 zone stands out as the broader resistance cluster, aligning with previous congestion and acting as a significant supply area.On the downside, the main risk emerges if price breaks below 1810 and delivers a weekly close beneath it. In that case, the structure weakens and a pullback toward 1635, followed by 1385, remains possible.In summary, as long as the triangle’s lower band is protected, recovery attempts stay on the table. Sustained price action above 2130 would shift short-term momentum upward. During periods of intensified news flow, the first structural cracks often appear within compression zones like this. For that reason, weekly behavior around 1810 and 2130 deserves close attention. Long-Term Triangle Formation These analyses do not provide investment advice and focus on support and resistance levels that are considered to offer short- and medium-term trading opportunities depending on market conditions. However, responsibility for execution and risk management lies entirely with the user. In addition, the use of stop loss is strongly recommended.
$8.7 Billion Worth of Bitcoin and ETH Options Expires
The biggest derivatives market event of February has arrived: a total of $8.72 billion worth of Bitcoin and Ethereum option contracts have expired. While the crypto markets are hovering at a delicate balance point with this critical development, both technical indicators and investor sentiment paint an interesting picture. Bitcoin accounts for the majority of this figure. With 114,705 contracts and a value of approximately $7.74 billion, BTC leads by a wide margin, while Ethereum has 478,992 contracts and a share of $975 million. This combined volume of the two assets represents approximately twenty percent of the total open positions; this makes the potential impact of the expiration on the market significant. Maximum pain levels are creating pressureBoth assets are trading significantly below their "maximum pain" thresholds. This concept refers to the price level at which the greatest number of options become worthless. Bitcoin is trading at $68,052, approximately $7,000 below the $75,000 threshold, while Ethereum is hovering around $2,035, below the $2,200 threshold. Historical patterns suggest that spot prices tend to approach these levels before expiration; this could create upward pressure in the short term. In the options structure, call contracts outweigh put contracts. The buy/sell ratio is 0.73 for Bitcoin and 0.78 for Ethereum. While this theoretically presents an optimistic picture, it takes on a different form in terms of volatility indicators. According to Deribit data, Bitcoin's implied volatility index is at 87.7% of its historical range, while Ethereum's volatility is approximately 15-20 points higher than Bitcoin's throughout the entire expiration curve.Anxiety persists in derivatives marketsBitcoin managed to retest the $70,000 level in recent days; however, this recovery was not enough to alleviate the deep anxiety in the market. There was a net inflow of $764 million into licensed Bitcoin ETFs in the US in the last two days. While this figure partially offset the $1.2 billion outflow in the previous eight trading days, it did not revive the appetite for leveraged buying in the futures market. The fact that the Bitcoin futures premium is hovering well below the neutral threshold of 5%, at only 2%, confirms this picture.What's behind the decline?Questions remain unanswered regarding the main factor that caused Bitcoin to fall by 32% in eight weeks. It is known that the major crash in October led to a $19 billion forced liquidation, coinciding with the US tariff increases on Chinese goods. Binance's payment of $283 million in compensation to users, citing internal pricing errors, was also among the notable developments. On the other hand, the controversy deepened when an analyst from Jefferies removed Bitcoin from their model portfolio, citing the risks of quantum computing. In response, the developer community prepared the BIP-360 proposal, which aims for a transition to post-quantum cryptography, while some market participants viewed Jane Street's large positions in Bitcoin ETFs with curiosity and suspicion. With all these developments in mind, Bitcoin's monthly price movement was as follows:
Ethereum Announces New Roadmap: Here Are the Key Details
The Ethereum Foundation has released a comprehensive roadmap that will shape the long-term future of blockchain. Called the "Strawmap," this plan outlines its approach along three main axes: scalability, quantum resilience, and native privacy at the base layer.Transaction finality in secondsCurrently, it can take minutes for a transaction to be finalized on Ethereum. The Strawmap aims to dramatically shorten this time. The roadmap highlights the goal of "1-slot finality," meaning each transaction will be finalized within a single slot, or a few seconds. This development will make the network a much more attractive environment for application developers while maintaining decentralization and security. 10,000 TPS target: zkEVM comes into playPerhaps the most striking part of the Strawmap is its targets for transaction capacity. Through zkEVM solutions based on zero-knowledge proof-of-stake technology, the Foundation plans to reach 10,000 transactions per second at layer 1 (L1) and 10 million transactions per second at layer 2 (L2). Improvements to blob data processing, sampling, and calldata efficiency are also part of this process.Taking precautions against the quantum threatThe threat that quantum computers could pose in the crypto world has long been a topic of discussion. According to figures like Michael Saylor, founder of Strategy, a serious quantum threat is still years away. However, Ethereum founder Vitalik Buterin warns that the risk could emerge as early as 2028. Ripple's technical director, David Schwartz, also expresses similar concerns, drawing attention to the need for a quantum-resistant fork of Bitcoin.Strawmap offers concrete answers to these concerns: Hash-based cryptography, quantum-resistant confirmation mechanisms, and quantum-resistant transaction schemes are included in the roadmap. In the same vein, the Bitcoin community has also brought up the BIP-360 upgrade; this upgrade, when implemented on the network, will bring post-quantum cryptography to Bitcoin. Privacy is now in the protocol itselfUntil now, Ethereum has largely relied on external tools and third-party solutions for privacy. Strawmap could change this equation. The roadmap includes native hidden transfers at the L1 level and advanced cryptographic principles. This means users can hide their balances and transaction history on the underlying protocol; without requiring an external tool.The foundation is structuring the upgrades through three main components:Consensus Layer (CL): Confirmation and validator efficiencyData Layer (DL): Transaction throughput and blob scalingExecution Layer (EL): zkVM, computational abstraction, and sustainabilityThe roadmap envisages a total of seven Ethereum forks by the end of 2029.Vitalik's ETH sales and price movementThe release of Strawmap coincided with Vitalik Buterin's gradual reduction of his portfolio. According to on-chain data, Buterin sold between 11,000 and 17,000 ETH (worth approximately $23-43 million) in the last month; leaving him with approximately 224,000 ETH. Buterin is carrying out these transactions in small batches, aiming to limit any potential sharp pressure on the price.On the market front, ETH is trading at $2,106 as of February 26, with a daily increase of 13.78%.
Pressure on Ethereum is Mounting: Vitalik Buterin Sold 1,869 ETH
Ethereum co-founder Vitalik Buterin's recent large-scale ETH sales have increased pressure on an already weak market. According to on-chain data, Buterin sold a total of 1,869 Ether in two days, creating approximately $3.67 million in liquidity. The sales coincided with a period when the price was approaching a technically critical breakout point. Data shared by the blockchain analytics platform Lookonchain shows that before the sale, Buterin withdrew 3,500 ETH from the decentralized finance protocol Aave. The subsequent sales made the already ongoing downward trend in the market even more visible. Market data shows that the Ethereum price has fallen by approximately 3 percent in the last 48 hours, dropping to $1,844 on Monday morning. This marks ETH's lowest level in 20 days. Vitalik Buterin's sales are not new. On January 30th, he announced that he would be gradually withdrawing and selling a total of 16,384 ETH through his organization, Kanro. It was stated that these funds would be used to develop the Ethereum ecosystem, open-source software, and finance long-term projects. During the same period, it was also stated that the Ethereum Foundation was undergoing a "moderate austerity process." According to data from the on-chain analytics company Arkham Intelligence, Buterin has sold off approximately 9,000 ETH in installments since the beginning of February. With sales accelerating in the last two days, the total amount has increased further. Despite this, Buterin still holds over 224,000 ETH in his wallets; the current market value of these assets is approximately $429 million.Vitalik Buterin's sales are impacting the marketIt is known that founder-related sales have had an impact on the market in the past. In May 2021, following a transfer of 35,000 ETH linked to the Ethereum Foundation, the price fell by approximately 50 percent within weeks. The 20,000 ETH transferred to the Kraken exchange in November 2021 coincided, in retrospect, with ETH reaching its peak of $4,700. On the other hand, there are also actors moving in the opposite direction in the market. ShapeShift founder Erik Voorhees and some large investors reportedly linked to Matrixport are said to be absorbing the selling pressure. However, the increase in supply stemming from the founder and the general risk-aversion trend indicate that pressure on the Ether price may continue in the short term. All these developments make the question of whether Ether will test the $1,500 band in the coming days even more critical. The market is closely monitoring both technical levels and Buterin's remaining potential sales.
Billionaire Peter Thiel Has Completely Exited His Ethereum Investment
Peter Thiel, acting alongside entities affiliated with technology investor Founders Fund, has divested his entire 7.5% stake in Ethereum treasury company ETHZilla. A 13G filing with the US Securities and Exchange Commission (SEC) formalized the divestment. The news of the sale had a sharp impact on the share price before the market opened. ETHZilla shares fell approximately 7% to around $3 in pre-market trading. This represents a loss of about 97% compared to the peak of over $107 seen when the company announced its transition to a digital asset treasury model last August.From biotech to Ethereum treasuryThe company restructured in August 2025, dropping the name 180 Life Sciences Corp. and becoming ETHZilla. At the same time, Thiel and affiliates, including Founders Fund Growth Management, acquired a 7.5% stake, a development that boosted the share price by more than 90% in a single session. ETHZilla officially launched its Ethereum treasury strategy on August 18, 2025, following a $565 million capital increase. The company positioned itself as an "Ethereum-focused accumulation vehicle," aiming to offer direct ETH exposure to public market investors and generate additional returns through staking. Over 60 investors, including Electric Capital, Polychain Capital, and GSR, participated in this funding round. However, a significant shift in the company's strategy has been observed in recent months. The rhetoric of accumulating ETH has given way to asset sales. In October, approximately $40 million worth of ETH was sold; this was reportedly used to finance a $250 million share buyback program approved by the board.In December, the company sold another 24,291 ETH to redeem its outstanding collateralized convertible bonds. The value of this sale at the time was $74.5 million. Thus, the company significantly reduced its Ether holdings in a short period. Focus on RWA TokenizationIn a statement in December, ETHZilla management emphasized that the company's future value would be shaped by revenue and cash flow growth from its RWA (real-world asset) tokenization business. Several steps have been taken in this regard in recent weeks.On February 5th, the company purchased a portfolio of 95 prefabricated and modular housing loans for approximately $4.7 million. These assets are planned to be tokenized on an Ethereum Layer 2 protocol; the targeted annual yield rate is stated as 10.36 percent. In addition, the company purchased two CFM56-7B24 aircraft engines to be tokenized through the Liquidity.io platform. This platform operates as an alternative transaction system subject to SEC regulation.Sixth Place in Ethereum ReservationsAccording to current data, ETHZilla ranks sixth among institutional Ethereum holders. The company holds 69,802 ETH; the current market value of this amount is approximately $139 million. Bitmine Immersion Technologies, a sector leader, holds 4,371,497 ETH, representing approximately $8.7 billion. In total, the top 10 Ethereum treasury companies hold 6,101,560 ETH, corresponding to a market capitalization exceeding $12 billion. Peter Thiel's complete departure coincides with a period where confidence in ETHZilla's Ethereum-focused treasury model is being questioned. The company's new focus on RWA tokenization appears likely to be a key factor in investors' performance expectations in the coming period.
Bitmine Acquired Another 45,000 ETH: Total Assets Reached 4.37 Million
Bitmine Immersion Technologies, Inc. announced that its total crypto assets, including cash reserves and "moonshot" investments, have reached a size of $9.6 billion. The company's balance sheet includes 4.37 million Ethereum (ETH), 193 Bitcoin (BTC), $670 million in cash, and various strategic investments. As of February 17, 2026, the 4,371,497 ETH held by the company is calculated at a unit price of $1.998, and the total value of these assets corresponds to approximately $8.7 billion. The amount of ETH held by Bitmine corresponds to 3.62% of the total circulating supply. The company has completed 72% of its strategic goal, which it calls "the alchemy of 5%," in just 7 months. Over 3 million ETH stakedBitmine's total staked ETH has reached 3,040,483. This figure represents a value of approximately $6.1 billion at the current price. According to company management, the annualized staking revenue from these staked assets is at the level of $176 million. The company's 7-day annualized return rate on staking operations was announced as 2.89%. The CESR (Composite Ethereum Staking Rate), which is considered a benchmark in the market, is at 2.84%. Bitmine aims to expand its staking activities through the Made in America Validator Network (MAVAN) infrastructure, which it plans to launch in the first quarter of 2026. Chairman Thomas "Tom" Lee stated that the company is currently working with three different staking providers and that a "best-in-class" staking infrastructure will be created with the launch of MAVAN. "2026 will be a decisive year for Ethereum"In his assessment after the Consensus event held in Hong Kong, Tom Lee stated that 2026 could be a turning point for Ethereum. According to Lee, three main long-term themes are strengthening Ethereum's use case.The first is Wall Street's shift towards Ethereum through tokenization and privacy solutions. The second is the use of Ethereum as a payment and verification infrastructure by artificial intelligence and autonomous agents. The third is content creators' preference for Ethereum Layer-2 solutions by adopting standards such as "proof of human."Lee stated that current investor sentiment is quite weak, reminiscent of the 2018 crypto winter and the 2022 lows. However, he emphasized that there will be no large-scale crashes similar to FTX in the 2025-2026 period. According to the company, the current weakness stems from a "mini-winter" period following the price shock on October 10th and the liquidation of leveraged positions.45,759 ETH Purchase in the Last WeekBitmine announced that it purchased 45,759 ETH in just the last week. The company states that it is maintaining its long-term Ethereum strategy regardless of the price trend and considers pullbacks as opportunities. The company's total asset composition also includes a $200 million investment in Beast Industries and $17 million in Eightco Holdings shares. These items are described as "moonshot" investments.Bitmine ranks first in the world in terms of Ethereum treasury and second among global crypto treasury companies. First place is held by Strategy Inc., which has approximately $49 billion in Bitcoin assets with 714,644 BTC.The company also stands out among the highest-volume shares on US exchanges. BMNR shares are the 158th most traded stock in the US with an average daily trading volume of $0.9 billion over the last five days.Strong support continues on the institutional side. Prominent names such as Cathie Wood, founder of ARK Invest, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital are among the company's investors.At the time of writing, the ETH price is trading at $1,992.42.
Harvard Reduced Its Bitcoin Holdings, Opened an Ethereum Position
Harvard Management Company (HMC), which manages Harvard University's endowment fund exceeding $50 billion, revealed a significant change in its crypto asset strategy in its fourth-quarter 2025 SEC filing. The institution significantly reduced its Bitcoin ETF position while investing in an Ethereum ETF for the first time.Bitcoin ETF Position Decreased by 21%According to the 13F report submitted to the SEC, HMC reduced its stake in the iShares Bitcoin Trust (IBIT) fund, issued by BlackRock, by more than 21% compared to the previous quarter. The fund, which held 6.81 million shares at the end of the third quarter, reduced this amount to 5.35 million shares at the end of the fourth quarter. The market value of this position as of December 31 was recorded as $265.8 million. In the previous quarter, the value of the IBIT position was $442.8 million. Both the decrease in the number of shares and the pullback in Bitcoin price contributed to the overall decrease in value. Despite this, Bitcoin remained Harvard's largest publicly declared single investment. A new chapter opened on the Ethereum side. HMC purchased 3.87 million shares of the iShares Ethereum Trust (IETH) fund, also issued by BlackRock. The amount paid for this investment was announced as $86.8 million. Thus, the Harvard foundation fund took a position in an Ethereum-based exchange-traded fund for the first time. As a result of these transactions, Harvard's total cryptocurrency exposure through Bitcoin and Ethereum ETFs reached $352.6 million. This shows that the university has not completely abandoned digital assets, but has adjusted its portfolio allocation. The quarter in question was quite volatile for the crypto markets. After peaking at approximately $126,000 in October 2025, Bitcoin experienced a sharp pullback towards the end of the year, falling to $88,429 on December 31st. Ethereum, meanwhile, lost approximately 28% of its value during the same period. Currently, Bitcoin is trading around $68,600 and Ethereum around $1,900.Despite the reduction in Bitcoin positions, Harvard's $265.8 million investment in IBIT still surpasses its holdings in tech giants like Alphabet, Microsoft, and Amazon. This indicates that the university's appetite for digital assets remains strong.On the other hand, Harvard's crypto strategy has sparked debate in academic circles. Andrew F. Siegel, a retired finance professor from the University of Washington, described the Bitcoin investment as "risky," pointing to its approximately 22.8% decline in value since the beginning of the year. Siegel argued that Bitcoin's risk profile stems partly from its "lack of intrinsic value."Avanidhar Subrahmanyam, a finance professor from UCLA, stated that the addition of an Ethereum position has increased his reservations about digital assets. Subrahmanyam stated that he views cryptocurrencies as an unproven asset class with an as-yet-unclear valuation methodology, and that his doubts about Harvard's previous Bitcoin investment have been strengthened by recent performance.
$3 Billion Worth of BTC and ETH Options Expiration Completed: What's Next?
Attention in the crypto derivatives markets is focused today on the large options expiry on Deribit. Approximately $3 billion worth of Bitcoin and Ethereum options contracts expire at 11:00 AM Turkish time (08:00 UTC), raising expectations of short-term volatility in the market.Critical Threshold After ExpirationAccording to data, approximately $2.5 billion worth of Bitcoin and over $400 million worth of Ethereum options are expiring today. Closings of this magnitude can create short-term fluctuations in the spot market, especially when prices are near certain strike levels. At the time of writing, Bitcoin is trading at $66,372, with its maximum pain point around $74,000. The total open interest exceeds $2.53 billion. On the Ethereum side, the price is near $1,950; with approximately $425 million in open interest, the maximum pain level is $2,100. The maximum pain level refers to the price point where the greatest number of option contracts expire worthless. Theoretically, this level represents the area where option sellers gain the most advantage. The market doesn't always have to go to this point; however, due to dense clustering of open positions, hedging transactions, and market makers' gamma positions, prices may be "pulled" towards these areas.The sharp sell-off in the last week and the rapid drop below $70,000 led to significant liquidations in the derivatives market. This movement sharply increased demand, especially for put options. Risk reversal (RR) indicators are still significantly in negative territory. The fact that the 1-week and 1-month 25-delta risk reversal values remain at negative levels shows that investors' demand for downside protection continues.The risk reversal metric sheds light on market sentiment by measuring the premium difference between call and put options. Negative values indicate that investors are paying higher premiums to protect against declines and are pricing in downside risks. According to Greeks.live analysts, over $1 billion worth of put options were traded on Bitcoin today, representing 37% of the total volume. It's noteworthy that a large portion of these positions are concentrated in the out-of-the-money range of $60,000-$65,000. This suggests that institutional players, in particular, remain cautious regarding the medium term. However, with volatility receding from panic levels in recent days, some investors are starting to turn to call options again. This indicates a fragile balance in the market. On one hand, there is continued demand for downward hedging, while on the other, expectations of a short-term recovery are gaining strength.Large option expiry dates generally open the door to two different scenarios. In the first scenario, hedging pressure decreases with the closing of contracts, and the market may experience temporary relief. In the second scenario, due to the clustering of large open positions, prices may exhibit sharp movements towards critical levels.The current prices of Bitcoin and Ethereum are relatively close to their maximum pain levels. This increases the likelihood of intraday price “pinning,” sudden increases in volatility, and liquidity-driven movements. However, macroeconomic flows, spot demand, and overall risk appetite will continue to be decisive in determining the post-expiration direction.In conclusion, today’s approximately $3 billion in options expiring represents a short-term stress test in the market. Derivative investors, still remaining defensive after the liquidation shock, have not yet reached a clear consensus on the direction. Therefore, it will not be surprising to see sharp and rapid fluctuations in intraday price movements.
JPMorgan and Standard Chartered Make Critical Bitcoin and ETH Predictions
Assessments from two global banks in the cryptocurrency market indicate a cautious outlook in the short term, while optimism remains in the long term. US financial giant JPMorgan lowered its estimate for Bitcoin's production cost, while British banking group Standard Chartered revised its price expectations. According to JPMorgan analysts, the production cost, which historically served as a "soft support level" for Bitcoin, has fallen from $90,000 at the beginning of 2026 to $77,000. This decline was influenced by a decrease in hashrate, which represents the network's total processing power, and a drop in mining difficulty. The bank emphasized that the recent decline is the sharpest difficulty drop since China's mining ban in 2021. The cumulative decrease in mining difficulty since the beginning of the year has reached approximately 15 percent. Mining difficulty on the Bitcoin network is adjusted approximately every two weeks, aiming to keep the block time stable at an average of 10 minutes. When the hashrate drops, the system automatically lowers the difficulty. According to JPMorgan, this situation is leading to the exit of high-cost miners from the market and allowing more efficient players to gain market share.Bank analysts pointed out that there are two main reasons for the decrease in production costs. First, the decline in Bitcoin price made operations unprofitable for miners with high energy costs or those using outdated equipment. Some of these companies were forced to shut down their machines. Second, severe winter storms in the US, particularly in Texas, caused large mining facilities to temporarily cease operations.JPMorgan notes that historically, sharp drops in mining difficulty signal a "capture" period. During such periods, high-cost miners may sell their Bitcoins to cover operating expenses, reduce debt, or shift to different areas such as artificial intelligence. This selling pressure has increased the downward pressure on prices since the beginning of the year. However, the bank believes that the picture has become more balanced after inefficient players exited the market. Indeed, analysts state that signs of a recovery in hashrate are being seen, and this could push production costs up again in the next difficulty adjustment. JPMorgan maintains its positive outlook for the crypto markets for the whole of 2026. The bank cites increased institutional investor inflows and clarification of the regulatory framework in the US as potential catalysts. It also reiterated its long-term target of $266,000 for Bitcoin. Standard Chartered also shared its Bitcoin and Ethereum forecastOn the other hand, a more cautious short-term outlook emerges from Standard Chartered. The bank's head of crypto assets, Geoff Kendrick, stated that "captivation selling" may continue in the coming months. According to Kendrick, Bitcoin could fall to $50,000 and Ethereum to $1,400. The analyst also drew attention to outflows from spot Bitcoin ETFs. Kendrick emphasized that the amount of assets held in ETFs has decreased by approximately 100,000 BTC since the peak in October, noting that the average purchase price was around $90,000, meaning many investors have incurred significant losses on paper. On the macroeconomic front, the postponement of interest rate cut expectations to June is limiting risk appetite. Despite this, Standard Chartered remains optimistic in the long term. The bank expects a recovery towards the end of 2026 and predicts that Bitcoin could reach $100,000 again. The $4,000 target for Ethereum remains unchanged, although a downward revision has been made compared to previous estimates. At the time of writing, the Bitcoin price is trading around $67,000.
Bitmine Has Collected 3.6% of the Ethereum Supply
As Ethereum-centric institutional treasury strategies gain momentum, US-based Bitmine Immersion Technologies has once again drawn attention with its latest move. The company announced that its Ethereum reserves have reached 4.326 million ETH, bringing its total portfolio size, including crypto assets, cash, and other investments, to $10 billion. Bitmine Back in the Spotlight with Ethereum PurchaseBitmine Immersion Technologies, which has attracted attention with its Ethereum-focused treasury strategy, has once again become the center of attention in the crypto markets with its latest announcement. The company announced that its Ethereum reserves have reached 4.326 million ETH. Its total portfolio size, including crypto assets, cash, and other investments, has reached $10 billion. This figure makes Bitmine the company with the largest Ethereum treasury globally.Thomas Lee, Chairman of the Board of the Las Vegas-based company, confirmed that more than 40,000 ETH were purchased in the last seven days. These purchases were made during a period when Ethereum prices experienced a pullback exceeding 60% compared to their 2025 peaks. Bitmine management notes that despite price weakness, on-chain activity remains at historical levels, viewing this as a long-term opportunity. The company holds 4.3 million ETH, representing approximately 3.58% of the total circulating Ethereum supply. Bitmine actively stakes 2.87 million ETH of this amount. Current staking activities generate approximately $202 million in annual revenue. Management expects the "Made in America Validator Network" (MAVAN) infrastructure, scheduled for rollout in the first quarter of 2026, to further boost these returns. Thomas Lee defines the company's long-term goal as "Alchemy of 5%," aiming to reach 5% of the total circulating Ethereum supply. Lee emphasizes that they have already approached over 70% of this goal in just six months, and states that bridging the gap between the Ethereum ecosystem and traditional capital markets is a strategic priority. According to the company, while the number of transactions and active addresses on the chain are at all-time highs, the fact that prices do not reflect these fundamentals creates a striking divergence.Bitmine's balance sheet is not limited to Ethereum. The company holds 193 Bitcoin, while its cash position is at $595 million. In addition, a $200 million investment in the AI infrastructure company Beast Industries constitutes a significant part of its portfolio. This strong liquidity structure allows the company to continue its purchases despite market fluctuations.The implemented high-trust treasury strategy has also increased interest in Bitmine shares. With an average daily trading volume of $1.3 billion, the company ranks 107th among the most traded stocks in the US. This level positions Bitmine in the same league as many global blue-chip companies. In pre-market trading, BMNR shares are priced at $19.56.
