BitMine increases its Ether holdings twice a week, with total Holdings exceeding $8 billion! Bloomberg analysts say the alts season has arrived.

Bloomberg analyst James Seyffart believes that the "altcoin season" has arrived, with the main driving force being companies' strategic investments in encryption assets. He pointed out that digital asset companies (DATCOs) are performing exceptionally well, even though the prices of many tokens have not returned to historical highs. Take BitMine, owned by Tom Lee, as an example; the company made its second major Ethereum (ETH) purchase in just two days, totaling $167 million, further expanding its Holdings. In addition to ETH, alts such as BNB, XRP, and SUI are also attracting institutional funds, such as BNB Network Company increasing its BNB holdings, Japanese gaming company Gumi purchasing XRP, and Galaxy Digital participating in SUI treasury management. These large treasury allocations and strategic investments demonstrate that the pump in the altcoin market is being driven by institutional power rather than retail investor activity.

Bloomberg analyst announces that the altcoin season has begun

In a recent interview, Bloomberg analyst James Seyffart stated that Digital Asset Treasury Companies (DATCOs) have achieved significant gains, although the performance of many individual Tokens still lags behind the peak levels of the previous cycle. He believes that institutional actions are the true driving force behind the current market dynamics.

"I think this is the altcoin season. The performance of these DATCOs is simply amazing," said Seyffart.

However, Seyffart also cautioned against comparing altcoin investment products to Bitcoin ETFs, as altcoin ETFs are unlikely to generate the same market demand. Instead, he expects that products containing multiple assets will attract more institutional capital, as large investors typically avoid concentrating risk in a single altcoin. For example, Canary Capital submitted an application for a "Made in America Crypto ETF" to the U.S. Securities and Exchange Commission (SEC), which aims to invest in digital assets linked to the United States, potentially including XRP, SOL, and ADA.

BitMine Aggressively Increases Holdings of Ethereum

Among the institutional players leading this wave, BitMine, owned by Tom Lee, is a prominent representative. The company made its second significant Ethereum purchase in just one week—again increasing its holdings by 38,708 ETH, worth approximately 167 million USD. This transaction followed a previous purchase of 358 million USD. BitMine purchased 14,665 ETH from Galaxy Digital, while FalconX transferred over 65,000 ETH to a new wallet. These initiatives raised its total treasury valuation to over 8.08 billion USD.

These actions have allowed Ethereum to outperform the entire market over the past month. It also reflects how fund allocation can stimulate price rises during periods of low retail investor activity. Tom Lee's fund expansion further confirms Seyffart's view that institutional strategies are shaping the development trajectory of alts.

Other alts that are experiencing growth in their treasury include XRP. In August, Japanese gaming and blockchain company Gumi disclosed the purchase of $17 million worth of XRP, aiming to support its expansion in the financial services and cross-border payment systems. Additionally, Galaxy Digital collaborated with Mill City Ventures to oversee a $450 million SUI treasury project. These actions reflect the growing number of companies viewing alts as strategic treasury assets.

Bloomberg analysts emphasize that the combined effect of these measures proves that the alts season has arrived. He also added that large-scale capital allocation, discussions around ETFs, and strategic corporate investments are providing pump momentum for these Tokens.

Conclusion

After experiencing a previous bull market driven by retail investors, the current altcoin market is showing a new dynamic led by institutional forces. The views of Bloomberg analysts and the actions of companies like BitMine clearly indicate that businesses are incorporating various alts into their balance sheets, viewing them as long-term strategic investments. This shift not only provides new growth momentum for the market but also suggests that future market fluctuations may be more closely tied to macroeconomic factors and institutional decision-making. As more companies adopt digital assets as part of their treasury, the liquidity, stability, and market maturity of alts are expected to further enhance, injecting new vitality into the entire encryption ecosystem.