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Recently, the cryptocurrency sector has welcomed a significant piece of news. A company supported by well-known investors, BitMine, has launched its stock options trading on the New York Stock Exchange. The company's goal is noteworthy: it plans to acquire 5% of the global Ethereum supply.
The stock code for BitMine is BMNR, and since the company announced its shift to an Ethereum accumulation strategy, its stock price has shown a significant upward trend. Notably, Founders Fund has now become the largest shareholder of BitMine, while ARK Invest also purchased $182 million worth of shares this week to participate in Ethereum investment.
As of July 17, data shows that the total value of Ethereum held by BitMine has surpassed $1 billion. This move not only reflects institutional investors' confidence in Ethereum but may also have a profound impact on the market supply and demand for ETH.
The launch of options trading by BitMine on the New York Stock Exchange marks a further integration of traditional financial markets and the cryptocurrency sector. With the participation of more institutional investors, the Ethereum ecosystem may usher in new development opportunities and challenges.
However, BitMine's large-scale hoarding plan has also sparked discussions in the market about the level of decentralization of Ethereum. Some analysts believe that such a concentrated holding may impact the price volatility of ETH and network governance.
In any case, BitMine's movements will undoubtedly become one of the focal points of the cryptocurrency market. As the situation develops, we will continue to monitor this significant event that could change the Ethereum landscape.