The Ethereum price has increased by 3% in the past 24 hours, reaching $4,436. This surge is attributed to recent company purchases and regulatory expectations.
BitMine Purchases
BitMine, led by Tom Lee, expanded its Ethereum reserves by 46,255 ETH, valued at approximately $200.43 million. This marks the second significant purchase this month after acquiring 202,500 ETH earlier in the week, pushing their total reserves past 2 million ETH, achieving 2.1 million ETH worth about $9.27 billion.
BitMine holds the largest Ethereum reserves among public companies, significantly ahead of Sharplink Gaming, which holds over 837,000 ETH.
SEC Delay on ETF Decisions
The U.S. Securities and Exchange Commission (SEC) has again delayed decisions on several crypto ETF applications. In the new statement, the SEC indicated that it needs more time to review applications concerning staking for Ethereum ETFs filed by BlackRock, Fidelity, and Franklin Templeton. New deadlines are set for November 13 for Franklin's amendment and October 30 for BlackRock's proposal.
Current Ethereum Price Trends
Ethereum has been moving within a bullish channel setup since April 2025. After a significant rise from around $1,400, Ethereum's price now trades near $4,436. Indicators, such as the Relative Strength Index (RSI), suggest that Ethereum still has room for upward movement, while Fibonacci levels and moving averages indicate robust support.
Recent developments surrounding Ethereum, including BitMine's purchases and SEC delays on ETF decisions, create significant attention in the cryptocurrency market, maintaining its bullish trend.
