Trend Research, Bitmine double down on Ethereum with fresh purchases

Trend Research has increased its ETH holdings to 636,815 ETH, valued at $1.98 billion at current prices. Onchain data shows that the firm bought 9,939 ETH for $30.85 million and sent it to Aave V3 before borrowing an additional $20 million in USDT to buy more Ethereum.

Hong Kong-based investment Trend Research has bought more Ethereum, according to onchain data from blockchain explorer and blockchain analytics platform Arkham Intelligence. The firm borrowed $30 million in USDT from Aave, a DeFi lending and borrowing platform, and bought 9,939 ETH for about $30.85 million from Binance.

Trend Research and BitMine buy more Ethereum as the crypto market dips 

Trend Research transferred the newly bought 9,939 ETH to Aave and then borrowed an additional $20 million in USDT to buy more ETH. The firm now has 636,815 ETH in its books, valued at $1.98 billion at current ETH prices.

Trend’s founder, Jack Yi, said last year that he was optimistic about crypto’s performance in the first half of 2026 and pledged to continue purchasing Ethereum until the bull market arrives.

On December 12, Trend Research wrote on X that it was staying bullish on ETH after the 1011 market crash and “remain optimistic about the future” due to the increased integration of crypto assets into traditional finance.

Bitmine Immersions Technologies also announced it bought more Ethereum. A press release dated January 20 detailed that the crypto company had bought an additional 35,268 ETH in the last week. According to Thomas Lee, Chairman of Bitmine, Ethereum’s price ratio to Bitcoin has been rising since mid-October, indicating that investors have recognized tokenization and other use cases being developed by Wall Street on the Ethereum network. 

Lee also emphasized that BitMine “has staked more ETH than other entities in the world” and added that the company’s “ETH staking fee is $374 million annually,” exceeding $1 million per day. 

A recent Cryptopolitan report dated January 20 highlighted that BitMine recently staked about 86,848 ETH, bringing its total staked ETH to 1.77 million ETH worth roughly $5.66 billion. The publication also noted that Ethereum supply on exchanges has declined and reported that the growing institutional demand for Ethereum from ETFs and public companies such as BitMine is the root cause of the supply squeeze.

According to Coingecko, a crypto data platform, BitMine Immersions leads all publicly listed companies in Ethereum holdings. The company has 4,203,036 ETH valued at $12.73 billion at current prices, and its ETH holdings represent 3.48% of Ethereum’s total supply. 

The data also shows that BitMine has added 235,826 ETH to its books in the last 30 days. According to data from Bitcoin Treasuries, BitMine holds 192 Bitcoins, valued at $17.39 million, and ranks 86th among the world’s largest corporate Bitcoin holders.

Spot Ethereum ETFs buy $584M worth of ETH as ETH prices dip

U.S.-listed spot Ethereum exchange-traded funds have also added more Ethereum. The funds have accumulated $479.04 million in ETH in the last five days, according to data from the ETF tracking website SosoValue.

The data also shows that the ETFs received $584.91 million in inflows in January alone, with the month’s highest inflow of $175 million recorded on January 14. The funds hold $20.43 billion in Ethereum, representing about 5.14% of the crypto asset’s market capitalization.

Despite institutions’ massive buying activity, Ethereum has declined by 6.05% over the last 24 hours, bringing its seven-day decline to 4.46%.

Data from CoinGecko shows that the crypto asset is currently trading at $3,019 and is up 2.13% year-to-date at the time of this publication.

Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program