Bitmine Immersion Technologies holds 4.9% of Ethereum’s circulating Ether supply as U.S. spot Ether (ETH) ETFs logged about $1.2 billion in October net outflows through Oct. 22.
The withdrawals were the largest monthly outflow from the funds so far in 2026. Daily readings were negative on every session except two, Farside Investors’ figures show. The October total rose from $1.08 billion through Oct. 20, as EconoTimes reported in an earlier monthly tally.
Farside Investors’ data put August’s net inflow at $1.85 billion and September’s at $832 million, before October’s reversal.
Bitmine’s reported holdings stood at 6.04 million ETH, about 66,000 ETH short of the company’s 5% target. The 4.9% figure refers to Ethereum’s circulating supply.
Bitmine Chair Tom Lee told the Token2049 audience the company would not accumulate beyond 5%, describing the threshold as “a hard cap.”
