Lately, I hear more and more about how Tom Lee is changing his market strategy. The guy who was an icon on Wall Street for years and accurately predicted the movements of the S&P 500 is now putting all his energy into Ethereum. An interesting observation because it shows where really large capital is flowing.

It all started when Tom Lee published a framework for valuing Bitcoin back in 2017, comparing it to gold. But now? Now he says that Ethereum is the biggest trading opportunity for the next 10-15 years. As chairman of the board of BitMine Immersion Technologies, he is working on a strategy where the company will hold 5% of the total supply of Ethereum. By August 2025, they already had over 833,000 ETH — about 3 billion dollars.

Why is Tom Lee so fixated on Ethereum? Primarily, it’s about stablecoins. The stablecoin market is already over 250 billion dollars, and more than half of that is issued on Ethereum. This accounts for about 30% of all transaction fees in the network. The forecast is that this market could grow to 2-4 trillion dollars. If it happens, it will be a serious matter for Ethereum.

But it’s not just stablecoins. Tom Lee sees a fusion of traditional finance with artificial intelligence here. Ethereum as a platform for smart contracts supports asset tokenization, financial tokenization, and AI-powered robots. It’s infrastructure that connects Wall Street with the crypto world. Wall Street is starting to understand this — institutional investments in staking Ethereum are growing; it’s no longer just buying and selling.

This is a completely different perspective from what we usually hear. Tom Lee has always been data-driven and never followed hype. If he says it’s a macro opportunity, it’s worth paying attention. The model he’s building at BitMine aims to increase net asset value per share through staking and issuance. As is typical on Wall Street — systematically, without emotions.