Bitmine added 27,180 ETH to its treasury and Ether ETFs pulled in $196.9 million in weekly net inflows, even as Bitcoin ETFs bled money. It matters because two separate capital channels, corporate treasuries and regulated funds, moved toward Ethereum in the same week.
What actually happened
Bitmine added 27,180 ETH, lifting its total holdings to 5.96 million ETH, according to The Block. Adviser Tom DeMark told the outlet he expects a sharp upward move in the coming weeks. Separately, CoinDesk reported the firm added $68 million (USD) in ether, with chairman Tom Lee citing a rising ETH-BTC ratio and institutional demand as it closes in on a 5% accumulation goal. US spot Ether ETFs recorded $196.9 million in net inflows over four trading days, according to Cointelegraph, citing Farside Investors. BlackRock's iShares Ethereum Trust ETF led Friday's inflows with $148.8 million (USD). Meanwhile, Bitcoin ETFs shed $462.7 million (USD) over the same week. ETH now trades at $2,511, up +0.75% over the last 24 hours, with a 24-hour high of $2,532 and a low of $2,468. Trading volume over 24 hours reached $12.67 billion and market capitalisation stands at $306.36 billion.
How we got here
Bitmine has spent months building one of the largest known corporate ether positions, framing it as a long-term treasury strategy rather than a trade. The 5% accumulation goal Lee referenced points to a target share of total ETH supply, not a price level. This week's ETF numbers add a second thread. Bitcoin ETFs had just closed their strongest three-week inflow run of 2026 before reversing into four straight days of outflows. Ether ETFs, by contrast, turned positive only on Friday, when $216.4 million in single-day inflows pulled the week into the green.
Why this matters for you
For ETH holders, sustained treasury buying and a positive ETF week are both signals of demand absorbing supply, though neither guarantees price direction. For builders, a firm with a public accumulation target and consistent buying provides a visible demand floor that L2 and staking projects can point to when discussing network economics. For anyone tracking flows, the split between Bitcoin ETF outflows and Ether ETF inflows this week is the more unusual data point than the price itself.
The bigger question
If corporate treasuries and ETF investors keep favoring ether over bitcoin, does that reflect a lasting shift in institutional allocation, or a short-term rotation tied to this particular week?
What to watch
Watch whether Bitmine discloses progress toward its 5% supply target in coming weeks, and whether Tom DeMark's forecast of a sharp move plays out on any specific timeline. Also watch the next weekly ETF flow report from Farside Investors to see if Ether inflows continue or reverse. Bonuz will track both threads as they develop.
This article is information, not financial advice. Prices are a snapshot and change constantly. Nothing here is a recommendation to buy or sell any asset. Do your own research.
