Wall Street Giants Including Morgan Stanley Boost Bitmine Stakes During Market Downturn
Major institutional investors maintained their appetite for the world's premier Ether treasury firm, with top Bitmine stakeholders expanding their positions despite widespread market volatility.
Major institutional investors in Bitmine Immersion Technologies (BMNR) expanded their holdings in the world's premier Ethereum treasury firm throughout the final quarter of 2025, even as broader cryptocurrency markets experienced significant turbulence and the company's stock faced substantial headwinds.
According to Form 13F documentation submitted to the US Securities and Exchange Commission, Morgan Stanley, which holds the largest reported position, expanded its stake by approximately 26% to exceed 12.1 million shares, representing a value of approximately $331 million as the quarter concluded. ARK Investment Management, holding the second-largest position, grew its investment by approximately 27% to surpass 9.4 million shares with an estimated value of roughly $256 million, regulatory filings reveal.
Numerous additional major institutional stakeholders also expanded their positions. BlackRock grew its BMNR position by 166%, Goldman Sachs increased holdings by 588%, Vanguard expanded by 66%, while the Bank of America dramatically increased its stake by an extraordinary 1,668%.
Financial Institutions Expand BMNR Positions Despite 48% Decline in Stock Value
All of the top 11 major institutional shareholders expanded their BMNR exposure throughout the fourth quarter of 2025, including Charles Schwab, Van Eck, Royal Bank of Canada, Citigroup and the Bank of New York Mellon Corporation, based on regulatory documentation aggregated by cryptocurrency investor Collin.
This strategic accumulation occurred even as BitMine's stock price experienced a precipitous decline. BMNR shares decreased by approximately 48% throughout the final quarter of 2025 and declined roughly 60% across the preceding six-month period, with trading activity near $19.90 during Thursday's premarket session, based on data from Google Finance.
Sustained Institutional Capital Injections Maintain Bitmine's mNAV Metrics
The persistent institutional capital flows are delivering additional resources to sustain Bitmine's operational activities and ongoing Ether (ETH) acquisition strategy.
Market observers closely monitor the company's financial maneuverability through its market net asset value, commonly referred to as mNAV, which represents a metric comparing an organization's enterprise valuation against the worth of its digital asset reserves.
When mNAV drops below 1, corporations may encounter challenges securing capital through new share issuances, which could potentially constrain future cryptocurrency acquisition activities. Information monitored by Bitmine tracking platforms showed the company's mNAV stayed above 1, bolstered partially by sustained institutional investment participation.
Bitmine persists in growing its Ether reserves throughout the current market correction phase. The company acquired 45,759 Ether tokens for approximately $260 million over the preceding week, maintaining an average acquisition price of 1,992 per ETH.
BitMine maintains its position as the foremost corporate Ether accumulator, holding 4.37 million Ether valued at approximately $8.69 billion within its treasury, based on information from the StrategicEthReserve.