Trend Research Raises ETH Treasury to ~580K, Signals $1B More; BitMine Stakes Big as ETH Treasuries Concentrate
Trend Research bought 46,379 ETH, bringing its reported treasury to about 580,000 ETH and making it one of the largest private Ethereum holders. On-chain trackers link the purchases to Jack Yi of LD Capital, whose accumulation began in October. Yi signalled plans to deploy an additional $1 billion to continue buying ETH and publicly urged traders not to short, signaling further buy-side pressure. Trend Research now ranks behind SharpLink Gaming (~859,853 ETH) and BitMine Immersion Technologies (~4,066,062 ETH) among known treasuries.
Separately, BitMine plans to stake large holdings via a U.S. validator network, targeting roughly 5% of ETH supply across its operations to capture staking yield and increase influence over consensus. Some listed treasuries have trimmed positions: ETHZilla sold about 24,291 ETH (≈$74.5M) and FG Nexus conducted smaller redemptions or buybacks to meet financing needs. Analysts say corporate accumulation plus staking is concentrating liquid ETH with strategic players, turning treasuries into yield-generating infrastructure and potentially shifting network influence.
Key data points for traders: Trend Research +46,379 ETH → ~580,000 ETH; SharpLink ~859,853 ETH; BitMine ~4,066,062 ETH; ETHZilla sold ~24,291 ETH (~$74.5M). Market implications include increased buy-side demand from a large private buyer preparing further purchases, offset by selective sell-offs from listed treasuries that can provide temporary liquidity. Traders should watch on-chain flows, staking announcements, and large wallet movements for short-term volatility and potential longer-term supply concentration.
Bullish
Net effect is bullish for ETH price. Trend Research’s confirmed purchase of 46,379 ETH and declaration of up to $1B in further buying increases effective buy-side demand and signal strong accumulation by a large private actor. Large, coordinated buying—even from a private treasury—reduces available liquid supply and can support higher prices, particularly if buys continue. BitMine’s plan to stake large holdings also removes ETH from liquid markets, tightening supply and adding yield-driven demand. Offsetting factors include selective sales by treasuries like ETHZilla (≈24,291 ETH) to meet financing or buybacks, which create temporary liquidity and could suppress short-term upward moves. Overall, the scale of accumulation and planned future purchases suggests sustained upward pressure on ETH. Short-term volatility may rise around large on-chain movements and staking/validator announcements; long-term effects point to increased supply concentration, more ETH locked for staking, and higher structural demand, which are bullish for price.