Tom Lee, chairman of BitMine, observes that the ETH/BTC ratio has broken above a multi-year downtrend to reach 0.02994. He attributes this movement to two factors: the tokenization of financial assets by Wall Street and the demand driven by agentic AI, software that executes transactions without human input. BitMine slowed its ETH purchases to 9,926 tokens last week, compared with a weekly average of 59,998 over 43 weeks. Meanwhile, the company repurchased 20.8 million of its own shares since July, the largest buyback executed by any crypto digital asset treasury.
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