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Tom Lee’s BitMine Storms the NYSE With $11 Billion in Crypto

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Bitmine Immersion Technologies (BMNR) announced $11.4 billion in total crypto and cash holdings alongside approval to uplist to the New York Stock Exchange (NYSE).

The company will begin trading on the NYSE on April 9, 2026, after its stock ceases trading on the NYSE American following market close on April 8. BMNR will retain its ticker symbol.

BitMine’s ETH Treasury Grows to Nearly 4% of Total Supply

BitMine’s holdings as of this writing include 4,803,334 Ethereum (ETH) tokens valued at $2,146 per coin, 198 Bitcoin (BTC), a $200 million position in Beast Industries, a $92 million stake in Eightco Holdings (ORBS), and $864 million in cash.

The company now controls 3.98% of all ETH in circulation, placing it over 79% toward its stated goal of accumulating 5% of the total supply.

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That target has been central to BitMine’s strategy since its pivot from Bitcoin mining to Ethereum accumulation in mid-2025.

BitMine acquired 71,252 ETH in the week ending April 5, its highest weekly purchase since late December 2025.

The company has steadily increased its weekly buying pace throughout 2026, rising from roughly 33,000 tokens per week in early January to above 70,000.

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Tom Lee Frames ETH as a Wartime Safe Haven

Chairman Thomas “Tom” Lee, also known for his role at Fundstrat, positioned Ethereum’s performance against the backdrop of the ongoing Iran conflict, which began on February 28 with joint US-Israeli strikes.

“ETH remains the second best performing asset since the start of the war, with a 6.8% gain and outperforming the S&P 500 by 1,130bp. And ETH beating gold by 1,840bp demonstrates ETH is the wartime store of value,” read an excerpt in the announcement, citing Tom Lee.

Lee added that Ethereum benefits from Wall Street’s shift toward blockchain tokenization and growing demand from agentic AI systems for public, neutral networks.

The Iran war has triggered what the International Energy Agency called the largest supply disruption in oil market history, sending shockwaves through equities and commodities globally.

Against that backdrop, Lee argued that ETH’s absolute gains signal investor confidence that could eventually pull sidelined capital back into risk assets.

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These remarks align with sentiment from Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, during a recent BeInCrypto Experts Council.

“I think Ethereum probably wins for the next little while on the back of TradFi getting involved. As banks and other build stuff on the blockchain space, it’s almost all going to happen on Ethereum for the next couple of years, I think,” Kendrick told BeInCrypto.

Staking and Institutional Backing

BitMine has 3,334,637 ETH staked, generating an annualized yield of 2.78% and annualized staking revenues of $196 million. The company also launched MAVAN, its institutional-grade Ethereum staking platform built to serve custodians and ecosystem partners.

The firm ranks as the 96th most traded stock in the US by daily dollar volume at $987 million, placing it between Schlumberger and Adobe.

Its institutional investor base includes ARK Invest’s Cathie Wood, Founders Fund, Pantera, Kraken, Galaxy Digital, and personal investor Tom Lee.

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BitMine now trails only Strategy Inc. (MSTR) as the second-largest crypto treasury company globally. Strategy holds 766,970 BTC valued at approximately $53.5 billion.

The NYSE uplisting, increasing weekly ETH accumulation, and growing staking revenue suggest BitMine’s next phase will test whether institutional appetite for an Ethereum-focused treasury model can rival the attention that Strategy has drawn with Bitcoin.

The post Tom Lee’s BitMine Storms the NYSE With $11 Billion in Crypto appeared first on BeInCrypto.

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5 Asset Managers That Control Wall Street’s Crypto in 2026

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As of 2026, about 25 US asset managers directly offer crypto products (ETFs, trusts, or funds). But the five largest crypto-focused asset managers now collectively oversee well over $100 billion in digital asset products.

Their dominance reflects how deeply institutional capital has embedded itself into crypto through regulated ETFs.

Five Firms Control Nearly $100 Billion in Bitcoin ETFs

Spot Bitcoin ETFs alone surpassed $86 billion in combined assets under management as of this writing, according to Coinglass data.

Bitcoin Spot ETFs Total Net Assets. Source: Coinglass

The competition among issuers has intensified as fee wars, product variety, and institutional distribution networks determine who captures the most capital.

BlackRock Leads by a Wide Margin

BlackRock’s iShares Bitcoin Trust (IBIT) sits at $51.9 billion in AUM, representing approximately 45% of all spot Bitcoin ETF assets, according to SoSoValue data. During Q1 2026, IBIT pulled in $8.4 billion in net inflows, more than double any competitor.

The fund held approximately 782,180 BTC as of March 27, 2026, with BlackRock’s iShares Ethereum Trust (ETHA) adding several billion more. This pushes total crypto ETF exposure near $60 billion.

BlackRock's BTC Holdings
BlackRock’s BTC Holdings. Source: BlackRock

The firm’s unmatched distribution network across $12.5 trillion in total AUM gives it structural advantages no crypto-native competitor can replicate.

Fidelity Holds a Strong Second Position

Meanwhile, Fidelity’s Wise Origin Bitcoin Fund (FBTC) manages $12.8 billion in AUM, holding approximately 187,813 BTC as of early March, and its Ethereum Fund (FETH) adds over $1.3 billion.

Fidelity attracted $4.1 billion in Q1 2026 net inflows, ranking second behind BlackRock.

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The firm’s self-custody model through Fidelity Digital Assets and its 0.25% fee structure have made it a preferred choice among compliance-focused institutional allocators.

Spot Bitcoin ETF Fee Comparison
Spot Bitcoin ETF Fee Comparison. Source: Fibo

Grayscale Defends Its Legacy

Still, Grayscale Investments remains the oldest and broadest crypto-focused asset manager, operating since 2013.

Its Bitcoin Trust (GBTC) held approximately 154,710 BTC as of this writing, valued at approximately $10 billion. The lower-fee Bitcoin Mini Trust (BTC) added another $3.4 billion, according to Grayscale.

Grayscale Fund Information
Grayscale Fund Information. Source: Grayscale

GBTC outflows slowed to $1.2 billion in Q1 2026, a sharp decline from the multi-billion-dollar monthly outflows of 2024.

Grayscale’s total platform exceeded $35 billion in AUM as of late 2025, and it maintains the broadest product pipeline, with a 36-asset watchlist for potential future ETF launches.

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Bitwise Wins on Variety and Altcoin Exposure

Elsewhere, Bitwise Asset Management surpassed $15 billion in client assets across more than 40 products. These span ETFs, separately managed accounts, private funds, hedge strategies, and staking.

Its standout position is in Solana ETFs. As of early January 2026, Bitwise controlled approximately 67% of all Solana ETF AUM, capturing $731 million out of the $1.09 billion total.

Its BSOL Solana Staking ETF hit $500 million in AUM within just 18 days of trading. That staking-based yield strategy has resonated with institutions seeking alternatives beyond plain Bitcoin exposure.

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Galaxy Digital Plays the Long Game

Galaxy Digital operates as a full-service merchant bank rather than a pure ETF issuer. Its asset management arm reported $9 billion in AUM with $2 billion in quarterly net inflows by Q3 2025.

By the end of 2025, total platform assets reached $12 billion, despite reporting a $482 million loss in the fourth quarter.

Galaxy partners with State Street Global Advisors on actively managed digital asset ETFs and maintains exposure across trading, lending, staking, and venture capital.

Its hybrid model positions it as the go-to for institutions that need more than passive ETF access.

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Bar chart comparing AUM of top 5 crypto asset managers in 2026
Bar chart comparing AUM of top 5 crypto asset managers in 2026, Source: BeInCrypto

The 2026 crypto asset management race has a clear hierarchy.

  • BlackRock dominates on scale
  • Fidelity on institutional trust
  • Grayscale on history and breadt
  • Bitwise on product innovation, and
  • Galaxy on full-service infrastructure.

And then there is Morgan Stanley, which is not yet in the race but could reshape it entirely.

Morgan Stanley’s $160 Billion Wildcard Could Rewrite the Entire Leaderboard

The bank filed an amended S-1 for its spot Bitcoin ETF, MSBT, with a 0.14% fee that undercuts every existing competitor, including BlackRock’s 0.25%.

It would be the first spot Bitcoin ETF issued directly by a major U.S. bank rather than an asset manager. However, the ETF is just one piece.

  • Morgan Stanley has also applied for a national trust bank charter through a new subsidiary called Morgan Stanley Digital Trust. This would handle custody, trading, staking, and transfers of digital assets under federal oversight.

With $8 trillion in wealth management assets and over 16,000 advisors, even a modest 2% allocation would represent $160 billion in potential demand, roughly three times the size of IBIT.

If all these pieces come together, Morgan Stanley would not just enter the crypto race. It would be building the entire track.

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“They’re not just offering exposure anymore, they’re building the full stack. BNY Mellon + Coinbase as dual custodians is smart redundancy,” one user highlighted.

With spot Bitcoin ETFs now past $128 billion in combined AUM, the question is no longer whether institutions will adopt crypto. It is the managers who will capture the next wave of capital.

The post 5 Asset Managers That Control Wall Street’s Crypto in 2026 appeared first on BeInCrypto.

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Democrats meet tonight on record DHS shutdown

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White House clears 401(k) rule that opens door to crypto

House Democrats are convening a virtual caucus call tonight, April 6, to plot their next steps on the DHS shutdown, now 51 days old and the longest partial government shutdown in US history.

Summary

  • Punchbowl News reports House Democrats will hold a virtual caucus meeting tonight as the chamber returns from a two-week recess, with the DHS shutdown having been running since February 14
  • The shutdown broke the record for the longest in US history on March 29, surpassing the 43-day fall 2025 shutdown, and has left 480-plus TSA officers quitting, airport wait times exceeding four hours, and an estimated $2.5 billion in economic losses
  • The Senate passed a deal to fund DHS without ICE or CBP, but House Republicans rejected it last week, passing a 60-day stopgap that Senate Democrats called “dead on arrival.”

House Democrats are holding a virtual DHS shutdown caucus call tonight at the start of a critical week, according to Punchbowl News, as the chamber returns from a two-week Passover and Easter recess with no resolution in sight. The shutdown, which began February 14, crossed 51 days on April 6, making it the longest partial government shutdown in the country’s history. Democrats support the Senate-passed bill that funds most of DHS while excluding ICE and CBP, and leadership does not expect significant defections from that position.

The Senate passed a funding deal by voice vote in the early hours of last Friday after a marathon overnight session, threading the needle on Democrats’ core demand: funding the department without allocating money to ICE or the Border Patrol. Senate Majority Leader John Thune and Senate Minority Leader Chuck Schumer both backed the measure. But the House rejected it.

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Speaker Mike Johnson instead put forward a 60-day stopgap that would fund all of DHS, including ICE and CBP. Senate Democrats immediately declared it dead. “Our position remains the same,” House Minority Leader Hakeem Jeffries said. “There is a bipartisan bill that every single senator, Democrats and Republicans, supported, that has the votes to pass today.”

The Real Costs on the Ground

The shutdown has produced measurable damage. The TSA callout rate is running five times above its normal level. More than 480 transportation security officers have quit since February, and some major airports are operating with 40 to 50 percent of their expected workforce absent on any given day. Wait times exceeding four and a half hours have been recorded at some of the country’s busiest terminals. Estimated economic losses now stand at $2.5 billion, according to Republican appropriators who cited the figure in a recent floor statement.

As crypto.news reported when the earlier DHS funding lapse rattled markets in February, the shutdown’s spillover into economic data releases and Federal Reserve signaling can create cascading uncertainty across financial markets well beyond the political standoff itself.

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How Both Sides Got Here

The shutdown traces back to the killing of a US citizen by a Customs and Border Protection agent in Minneapolis in January 2026. Senate Democrats announced they would no longer support the DHS funding bill, which funds CBP, demanding reforms to immigration enforcement as a condition. Trump has repeatedly refused to negotiate on reopening DHS unless Democrats back the SAVE America Act, his voter ID and proof-of-citizenship legislation, which is a non-starter for the minority.

Tonight’s caucus call will test how unified House Democrats remain heading into the second week of return from recess, and whether any moderates are ready to move. As crypto.news noted when the 43-day fall 2025 shutdown finally ended, the resolution of prolonged political standoffs tends to produce sharp market relief rallies across risk assets.

“Throughout it all, Senate Democrats stood united — no wavering, no backing down,” Schumer said Friday after the Senate vote.

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Bitcoin May Hit $110K as Strategy Absorbs Nearly 3x New BTC Supply

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Bitcoin May Hit $110K as Strategy Absorbs Nearly 3x New BTC Supply

Bitcoin (BTC) is trading within a bear flag pattern that projects a breakdown toward the sub-$50,000 area, or roughly 30% below current levels. However, Michael Saylor’s Strategy could spoil the bears’ plans.

BTC/USD three-day price chart. Source: TradingView

Key takeaways:

  • Bitcoin has avoided a bear flag breakdown for weeks as Strategy keeps buying BTC.

  • The setup now resembles Bitcoin’s 2018 bottom, when a bearish pattern failed and triggered a reversal.

Can Strategy’s BTC buying offset weak technicals?

Normally, a bear flag remains a bearish continuation pattern because there is not enough demand to overcome the broader downtrend.

In Bitcoin’s case, however, Strategy has been taking supply off the market faster than miners can replace it.

Since March 2, Strategy’s Bitcoin holdings have risen by 46,233 BTC, while miners have produced only about 16,200 BTC over the same period, meaning it has absorbed nearly thrice the new supply.

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Strategy’s BTC holdings chart. Source: BitcoinQuant.CO

Much of that demand has come through STRC, Strategy’s variable-rate preferred stock. When STRC held near or above its $100 par value, Strategy kept issuing shares and accumulating BTC.

For instance, last week, Strategy raised $102.6 million through STRC sales to help fund a Bitcoin purchase worth over $330 million. BTC’s price has jumped by over 6.65% ever since.

STRC at-the-market sales analysis. Source: BitcoinQuant.CO

During March 9–13, STRC sales raised about $776 million, enough to buy over 11,000 BTC, while Bitcoin rose more than 7% even as the S&P 500 fell 1.6%. The same period saw BTC’s price rising over 10.5%.

But when STRC slipped below par in mid-March, issuance slowed. Earlier below-par episodes had coincided with 25%–40% BTC pullbacks, including a nearly 40% drop over three weeks after a January pause.

Bitcoin’s long-term holders and whales drove much of the selling.

Bear flag failure could set stage for rally to $110,000

Bitcoin remains inside a bear flag after a sharp decline, but the pattern would begin to fail if price breaks above the upper trendline near the mid-$70,000 area.

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That breakout would invalidate the immediate bearish continuation setup and shift focus to the bullish measured-move target near $108,000-$110,000.

BTC/USD weekly price chart. TradingView

A similar pattern failure occurred near Bitcoin’s 2018 bottom, when a rising wedge pattern led to a breakout instead of a breakdown.

Another factor supporting the upside case is Bitcoin’s position near its 200-week simple moving average (200-week SMA, the blue wave). In 2018, Bitcoin bottomed out near this level and rose by over 1,975% afterward.

As of 2026, the 200-week SMA has capped Bitcoin’s downside attempts successfully, raising the odds of a 2018-like bottom formation.

Related: Strategy’s STRC stock trading surge: How much Bitcoin can Saylor buy?

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Some analysts anticipate BTC to rise to $400,000 if Strategy continues buying BTC at its current rate.