Bitmine Immersion Doubles Down on Ethereum Holdings Amid Shift to Spot Trading

Bitmine Immersion has significantly boosted its treasury by adding 27,180 ETH, bringing the total to 5,956,378 ETH. This substantial increase in Ethereum holdings is a notable development in the crypto space.

The current spot price of ETHUSD is $2,513, and with approximately 85% of its stash staked, Bitmine Immersion earns an estimated 7-day yield of 2.62%. The company's decision to stake such a large portion of its Ethereum holdings highlights its confidence in the cryptocurrency's potential.

The trading landscape for ETHUSD has seen a notable shift, with spot CFD volumes rising by 7.95% week-on-week. Conversely, perpetual derivatives volumes have declined by 7.78%, indicating a trend towards spot trading. This development may reflect market participants' increasing confidence in the short-term prospects of Ethereum.

Deribit lists around $1.93 billion in ETHUSD options expiring on September 25, 2026, with its platform's overall crypto options open interest (OI) standing at approximately $16.6 billion. The put-call OI ratio for ETH options is reported to be 0.57.