Major Wall Street Banks Boost Stake in BMNR Stock Despite BitMine Treasury Losses

New filings have revealed that some major banks have increased their holdings in the BMNR stock, even with the recent losses recorded by BitMine. The firms involved include Bank of America (BOA) and the Royal Bank of Canada (RBC).

BOA, RBC Increase BMNR Stock Holdings

In recent Q4 filings released on Tuesday, it was revealed that Bank of America and Royal Bank of Canada bought more of BitMine’s shares.

BOA reportedly recorded a 16 times increase from quarter to quarter in its investment in the treasury firm over the course of the year. As of December 31, 2025, the bank held 3,162,085 BMNR stock shares, which are worth around $85 million.

On the other hand, RBC reported a 1.21x increase in its quarter-over-quarter growth. This was also worth around $20.7 million. This comes despite the Ethereum treasury firm currently facing paper losses of about $8 billion. One could also make the case that the banks made the purchase in December before the crypto market crash worsened in January.

Also, the Banks could be betting on the firm’s resilience to keep accumulating Ethereum. Just yesterday, CoinGape reported that BitMine bought more ETH, worth at $92.4 million based on today’s market prices.

This shows the firm could be bullish on a long-term basis, which could boost its BMNR stock, which has been struggling to maintain an upward momentum.

This is a complete reversal of strategy compared to other firms in the market. For instance, Trend Research completed liquidating its total Ethereum holdings. To add, Peter Thiel recently cashed out his stake in the Ethereum treasury firm ETHZilla.

Tom Lee Says 2026 Sentiment Similar to Past Bear Markets

Chairman Tom Lee said in a statement that the sentiment in the crypto market is more in the panic zone. He also stated that it’s similar to the bear market situation in 2018 and 2022. But he said that this time around, there have been no significant failures of the large market participants as seen in the accumulation of the BMNR stock.

“Investor sentiment and enthusiasm are rock bottom, reminding us of the forlornness and dejection seen at the November 2022 lows and depths of 2018 crypto winter,” he said. “Rather, it seems like crypto has remained weak since the ‘price shock’ and massive deleveraging seen on October 10th.”

Another example is asset manager BlackRock which boosted its BitMine stake by 165%. This shows institutional participation has yet to fade completely.

Lee also maintained that the price of ETH is still very undervalued. He added that the firm would continue to buy even more of the token through what he called crypto’s “mini-winter.”