According to Lee, the tokenization of stocks, bonds, and investment funds is advancing at an unprecedented pace and could position Ethereum as the core infrastructure enabling this structural transformation of global finance. Rather than viewing ETH purely as a speculative asset, Lee argues it should be understood as the fuel of a new blockchain-based financial system.
In this framework, Ethereum’s price is increasingly likely to reflect real network usage — including transaction volumes, tokenized asset issuance, and capital flows executed through smart contracts — rather than short-term market narratives.
Earlier this week, BitMine added 29,462 ETH, worth approximately $88 million, acquiring the tokens through custodians BitGo and crypto exchange Kraken. Commenting on the move, Lee stated that BitMine aims to serve as a bridge for Wall Street’s migration into blockchain-based finance through tokenization.
On the back of growing institutional adoption, Lee now expects Ethereum to reach a price range of $7,000 to $9,000 during the first half of 2026. At the time of writing, ETH is trading near $2,920, down about 1.7% week-on-week.
Looking back at 2025, Lee offered a mixed assessment. Until October, the year had largely unfolded as a bullish trading environment for crypto markets. However, the subsequent liquidation cascade — which he compared in severity to the FTX collapse three years ago — significantly altered market dynamics. According to Lee, it is therefore unsurprising that market participants require six to eight weeks to adapt to the new conditions.
While Bitcoin currently faces stiff competition from gold as a store of value, Lee believes Ethereum operates under a fundamentally different model. As a utility and settlement layer, Ethereum’s upside potential depends far less on narratives and far more on how much real financial activity ultimately migrates onto the network.