Fundstrat co-founder Tom Lee, who also chairs BitMine Immersion Technologies, is calling for Ethereum to hit $9,000 to $12,000 by the end of 2026 — with Bitcoin pegged at $150,000–$200,000 over the same stretch. The target lands as BitMine reveals it's accumulated 5.18 million ETH, currently worth about $12.07 billion, buying roughly $230 million worth per week for less than a year. And it comes alongside a pair of big institutional moves: BlackRock's tokenized money market fund BUIDL has swelled to $2.85 billion on Ethereum, and JPMorgan's MONY fund just went live on the network.
The BitMine Bet
BitMine Immersion Technologies now holds 5.18 million ETH. That's a position built fast — weekly tranches of roughly $230 million over under twelve months. The company isn't shy about the play. Lee, who sits as chairman, is effectively doubling down on Ethereum's long-term value as a settlement layer for real-world assets.
Institutional Flocks to Ethereum
Two of the world's biggest asset managers are making Ethereum home for tokenized products. BlackRock's BUIDL fund, the largest real-world asset product on any blockchain, sits at $2.85 billion. JPMorgan's MONY fund just launched on Ethereum, signaling that the network's infrastructure can handle institutional-grade financial products. That's the kind of use case bulls point to when they argue Ethereum's value isn't just speculative.
Other Bulls Weigh In
Lee isn't alone. Analyst Crypto Patel sees Ethereum hitting $10,000–$15,000 in the current market cycle, citing the same institutional developments. Celal Kucuker goes further, forecasting a long-term path above $24,000. All three are betting that real-world asset tokenization becomes a trillion-dollar vertical and that Ethereum captures the bulk of it.
The Price Reality Check
None of that changes what's happened so far this year. Ethereum has lagged Bitcoin during key market moments. Repeated breakouts have failed. Retail confidence is low — the sort of sentiment that makes even bold price targets feel like a tough sell. The institutional adoption is real, but the price hasn't followed yet. The question hanging over Lee's forecast is whether that changes in the second half of 2026, or if Ethereum's rally just keeps getting postponed.
