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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
11/04/2026

Tom Lee Sees Ethereum Resilience as ETF Investors Withdraw Capital

What happened: Fundstrat’s Tom Lee, also BitMine’s chairman, described the market response to Binance’s hack as constructive, pointing to Binance’s loss coverage, rapid stablecoin freezes, the absence

Tom Lee Sees Ethereum Resilience as ETF Investors Withdraw Capital

What happened: Fundstrat’s Tom Lee, also BitMine’s chairman, described the market response to Binance’s hack as constructive, pointing to Binance’s loss coverage, rapid stablecoin freezes, the absence of DeFi protocol collapses and attribution to North Korea within approximately two days. Decrypt nevertheless reported bitcoin ETF withdrawals exceeding $1 billion across two sessions, including $399 million on Monday, while Ethereum ETFs lost $140 million that day after October net outflows of $1.61 billion. BitMine separately disclosed adding 8,573 ETH, approximately $19.6 million, bringing its treasury to 6,060,506 ETH.

Why it matters: Lee’s argument concerns the system’s response to a major loss, whereas the ETF figures measure investors’ willingness to maintain exposure; those indicators can point in different directions without either being meaningless. BitMine’s additional purchase demonstrates continued buying by a corporate treasury, but it does not cancel the contemporaneous withdrawals from investment funds or establish broad institutional confidence. With Lee chairing a company holding more than 6 million ETH, readers should weigh his operational observations alongside both his financial exposure and the independently reported flow data.

Source: Decrypt.