Ethereum Gains Ground as Treasury Asset on Wall Street
Ethereum is stepping into the spotlight as traditional finance turns to crypto for long-term treasury strategies. Tom Lee of Fundstrat recently became chairman of BitMine Immersion Technologies. His mission? Transform the firm from a Bitcoin miner into an Ethereum treasury company.
The move signals growing confidence that Ethereum can mirror — or even surpass — Bitcoin’s role as a corporate reserve asset.
Tom Lee’s Bold Ethereum Pivot
Tom Lee is widely known for his bullish takes on crypto markets. But his latest move represents more than a prediction — it’s a structural shift. By backing Ethereum as a treasury reserve, Lee positions ETH as the future of institutional crypto adoption.
He recently told CNBC that Ethereum could become “the new Bitcoin.” That’s a bold claim, but one rooted in solid fundamentals and long-term market behavior.
Ethereum’s Proven Performance Over the Years
Since launching in 2015, Ethereum has delivered extraordinary returns. From under $1 to over $2,500 in a decade, its price history rivals any traditional investment. Despite being down 22% this year, its long-term growth remains unmatched in the crypto world.
Lee and others believe the recent pullback is temporary — especially with the Trump administration backing Ethereum as part of its U.S. Digital Asset Stockpile.
The Convergence of Wall Street and Ethereum
The growing connection between traditional finance and crypto is likely to drive further Ethereum adoption. Wall Street institutions are looking for decentralized financial infrastructure, and Ethereum is already the backbone of that ecosystem.
This convergence positions Ethereum at the center of the next wave of blockchain-financial integration.
Ethereum Dominates DeFi and Stablecoin Activity
In decentralized finance (DeFi), Ethereum is the clear leader. It controls over 55% of total value locked (TVL), the most important metric for DeFi dominance. No other chain comes close. Solana holds just 7%, and Coinbase’s Base network only manages 3%.
Stablecoins — another essential part of the DeFi economy — largely rely on Ethereum. This gives ETH a strong foundation for sustained demand and real-world use.
Treasury Model Could Fuel Ethereum’s Institutional Demand
MicroStrategy’s Bitcoin treasury model made headlines for years. Now, that same strategy is being tailored to Ethereum, opening the door to corporate ETH accumulation.
As more firms allocate capital to Ethereum, demand will rise. This may help stabilize prices and legitimize ETH as a long-term asset on corporate balance sheets.
Ethereum’s Path to Flippening Still Alive
While Ethereum hasn’t yet surpassed Bitcoin in market cap, the idea of a “flippening” — ETH overtaking BTC — remains viable. The growing institutional interest, stronger DeFi foundation, and treasury-based strategies all support this possibility.
Tom Lee’s bet suggests the market may be closer to this shift than many realize.