Ethereum Gains 9% as Bitmine Immersion Tech. Boosts Holdings
Ethereum (ETH) price spiked by about 9% to $1,809 on Monday as Bitmine Inc increased bets, driving optimism amid a US-Iran interim peace deal.
ETH is significantly outperforming the broader market rally, supported by positioning by institutional investors with a positive outlook from a key regulatory approval for a new multi-asset crypto ETF.
Bitmine Immersion Technologies (BMNR) announces ETH Holdings Reach 5.62 Million Tokens, and Total Crypto and Total Cash Holdings of $10.4 billion
Bitmine Immersion bought 76,881 Ethereum last week, bringing total holdings to 5.62 million ETH as BMNR jumped 6% in pre-market Monday.
Chairman Tom Lee said the company is maintaining an elevated buying pace because the ETH price pullback does not reflect strengthening Ethereum fundamentals.
“We believe we are in the early stages of crypto spring,” Lee stated. “Bitmine is expected to reach the alchemy of 5% sometime in 2026,” he added.
Also supporting the rally, the U.S. Securities and Exchange Commission approved T. Rowe Price’s actively managed multi-asset crypto ETF on June 12.
The fund holds a significant 18.55% allocation in Ethereum, providing a clear path for new institutional capital. This approval, coming after months of negotiation, is a tangible signal of regulatory openness.
The move is fueled by anticipation of fresh, diversified institutional demand for ETH directly. Technically, ETH broke and held above the critical 61.8% Fibonacci retracement level at $1,782.82, confirmed by a 128.8% surge in trading volume.
The rally has broad market participation and cleared a major technical hurdle, reducing immediate selling pressure.
The immediate trigger is the upcoming Federal Reserve interest-rate decision on June 17, the first under new Chair Kevin Warsh. If the peace-deal-driven risk-on sentiment holds and ETH stays above $1,782, the next target is the 50% Fibonacci resistance near $1,868.
However, if the Fed signals a more hawkish stance than expected, a break below $1,782 could see a swift drop toward the $1,707 support zone.
The outlook is cautiously bullish but highly dependent on the Fed’s macro guidance. The Fed’s “dot plot” projections and any shift in rate expectations.
ETH’s surge is backed by a concrete regulatory catalyst, sector rotation, and strong technical confirmation. The combination suggests this is more than a short-term squeeze.
Ethereum is advancing quantum security by proposing wallet-level smart contracts with quantum-resistant protections for ETH accounts, incorporating SPHINCS+ for minimal gas cost impact and planning an upgrade to lattice cryptography by 2029. Ethereum Rises, Japan Classifies ETH, BTC as Regulated Financial Products
