Ethereum Price Disappoints: Bitmine Fails to Offset ETF Exodus

Ethereum gained 2.5% in 24 hours to trade just below $2,450, remaining under $2,500 as U.S. spot ETFs lost nearly $389 million net over five sessions. Bitmine Immersion Technologies bought 12,535 ETH in the week through October 18, raising its holdings to roughly 6.04 million ETH, or 4.9% of circulating supply and near its 5% goal. Bitmine valued that position at $14.3 billion using a reported $2,365 per ETH and said over 5.06 million ETH was staked through its MAVAN platform and partners. ETH was still down 2.0% over seven days, 6.0% over 14 days, and 8.9% over 30 days.