Ethereum $ETH ( ▼ 2.76% ) has plunged below $2,000, down roughly 40 percent in the past month and about 60 percent from its 2025 peak. Yet large institutions are quietly increasing exposure, signaling long term conviction even as retail sentiment deteriorates.
BlackRock is moving forward with a staked Ethereum ETF, seeding the fund with initial capital that will be used to purchase ETH. Meanwhile, Harvard’s endowment gained exposure for the first time through BlackRock’s iShares Ethereum Trust $ETHA while trimming its position in the iShares Bitcoin Trust $IBIT.
Big money doubles down while prices fall
Corporate buyers are also stepping in. BitMine Immersion Technologies $BMNR ( ▼ 1.64% ) acquired more than 45,000 ETH worth about $90 million and expanded staking operations to roughly 3 million tokens, generating an estimated $176 million in annual staking revenue.
The accumulation suggests institutions may view the sell off as an opportunity rather than a warning sign, particularly as staking provides a yield component absent from Bitcoin.
Panic outside, patience inside
According to industry executives, investor sentiment has fallen to levels comparable to the depths of prior crypto bear markets such as 2018 and the post FTX collapse in 2022. Retail participants appear cautious, while institutions continue to build positions regardless of short term price action.
The disconnect highlights a recurring crypto pattern: when headlines turn bleak and prices collapse, long horizon capital often begins accumulating behind the scenes.