Ethereum Gains Wall Street Momentum as Stablecoins Spark Institutional Demand: Fundstrat’s Tom Lee
Ethereum (ETH) could be entering a major adoption phase as stablecoins drive institutional interest in blockchain infrastructure, according to Fundstrat co-founder and Bitmine Immersion Technologies chairman Tom Lee.
In an interview with CoinDeskTV, Lee likened the rise of stablecoins to artificial intelligence’s recent breakthrough moment. “Stablecoins have become crypto’s ‘ChatGPT moment’ — a clear, viral use case that has real traction with merchants, banks, and consumers,” he said.
Ethereum currently hosts over 50% of the nearly $250 billion stablecoin supply and remains the dominant platform for tokenizing real-world assets — two factors Lee believes are making the blockchain increasingly relevant to Wall Street.
“Institutions are looking for a compliant U.S.-based chain with scale and actual use,” he explained. “Ethereum checks those boxes. That’s why it’s becoming the preferred platform for financial innovation.”
While Bitcoin maintains its status as digital gold, Lee sees Ethereum offering potentially greater upside as the tokenized economy takes shape. Fundstrat analysts have placed a short-term technical target for ETH at $4,000, with a longer-term fair value estimate between $10,000 and $15,000.
“We believe ETH is dramatically undervalued,” Lee said. “For a corporate treasury, holding a high-upside asset like Ethereum makes strategic sense.”
Bitmine Immersion Technologies (BMNR), formerly a Bitcoin mining firm, has already pivoted to an ETH-focused treasury strategy under Lee’s leadership. The company recently disclosed it holds more than 300,000 ETH in spot and derivatives — a position worth over $1 billion at current market prices.
