Tom Lee Supports Ethereum, Citing Supply Contraction and Potential Russell 1000 Inclusion for BitMine

Chainthink

Release Time: 06/11/2026 00:33:34

ETH

$1,665.20-0.71%

Summary

Ethereum news broke on June 11 when Tom Lee supported ETH during a DACFP meeting, citing a shrinking supply and suggesting BitMine may not need to hold more than 5% of total ETH. Lee also noted the potential for BitMine to be added to the Russell 1000 index by June 30, which could stabilize its stock. This development comes as the Fear & Greed Index reflects growing investor confidence in crypto markets.

ChainThink reports that on June 11, Tom Lee made remarks during a conference for investment advisors, according to remarks presented by DACFP.

The current financial system is built on multiple layers of technology and is plagued by a large volume of "fake or fraudulent transactions." In contrast, Ethereum (ETH) and Bitcoin (BTC) have never experienced fraudulent transactions at the blockchain level, and the operational cost of blockchain is lower.

Tom Lee further noted that investing in blockchain is similar to holding real estate assets, and that future "agent AI" will rely on blockchain to achieve higher speeds and prevent system runaway.

He also noted that ETH's supply is contracting, and BitMine may not need to hold more than 5% of the total ETH supply.

Additionally, Tom Lee stated that BitMine may be added to the Russell 1000 Index by the end of June, which could provide stability support for its stock price; he also mentioned the company’s holdings in financial firms related to MrBeast.

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