NewsHK
Institutional ether accumulation has reached a scale that makes passive index funds a stakeholder.
Bitmine Immersion Technologies (BMNR) disclosed in its July chairman's letter that it now holds 4.8% of total $ETH circulating supply, measured against a float of 120.7 million ETH.
The company reached that position in 12 months, covering 96% of the way to a self-imposed accumulation target it calls the "Alchemy of 5%." Russell 1000 inclusion and the holder base shift Bitmine's addition to the Russell 1000 Large-Cap Index on June 26, 2026 is the structurally significant event for anyone watching cross-border capital flows into digital assets.
Index reconstitution mandates passive vehicles to hold the stock, converting a discretionary crypto investment thesis into a forced allocation for index funds.
Keep reading