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Tom Lee, chairman of Ethereum treasury firm Bitmine (BMNR), said ETH, BTC and SOL were the three best-performing assets since June 30, adding that ETH had posted the strongest performance among major assets, The Block reported. Lee said Ethereum had outperformed the S&P 500 by 5,430 basis points so far in the third quarter, and added that cryptocurrencies had significantly outperformed other major assets over the period. Lee also said the trend had created a foundation for institutional investors to increase their crypto holdings.
Separately, Bitmine said it bought an additional 53,501 ETH over the past week, bringing its total holdings to 5,901,112 ETH. The company said that amounts to about 4.9% of total ETH supply.