BitMine, an entity led by Fundstrat founder Tom Lee, purchased 12,532 ETH worth $31 million, according to a report by the @WatcherGuru account on X. The transaction took place while Ethereum traded in the $2,555 to $2,563 range. Tom Lee’s move to expand holdings aligns with his previously announced target projecting ETH could top $5,000 by late 2026.
BitMine’s aggressive stance contrasts with Wall Street’s cautious banking approach. While fund managers directly secure underlying coins, investment banks are choosing to extend technical preparations before facilitating the trading of tokenized products.
Why Morgan Stanley Is Choosing to Wait
Morgan Stanley postponed its target for supporting tokenized stock trading on its alternative trading system (ATS) to the first quarter of 2027. The new timeline shifts from an initial target in the second half of 2026. Morgan Stanley head of digital asset strategy Amy Oldenburg shared the reasons for the delay at the TOKEN2049 forum in Singapore, explaining that the bank needs additional time for suitable products and institutional investor demand to mature.
The system integration is planned without building a new crypto exchange from scratch. Tokenized stock trading facilities will eventually be integrated into the existing Trajectory Cross ATS platform. Alongside the rollout, Morgan Stanley is also developing proprietary wallet infrastructure to help clients store digital assets and tokenized financial products, although a release date has not yet been determined.
Capital Market Infrastructure Keeps Moving
Morgan Stanley’s delayed timeline comes as US regulators and clearinghouses begin organizing tokenized instruments. On September 17, 2026, the US Securities and Exchange Commission (SEC) introduced temporary exemptive relief for select platforms trading tokenized equities via automated market maker (AMM) mechanisms. This regulatory flexibility allows testing of digital stock transactions without immediately colliding with conventional exchange rules.
On the settlement front, the Depository Trust & Clearing Corporation (DTCC) is scheduled to launch tokenization services in October 2026. More than 50 firms have joined supporting working groups to finalize the readiness of this new clearing system.
For crypto market investors, this divergence highlights two parallel approaches. Players like Tom Lee prefer holding underlying assets directly, while banking institutions wait for regulatory clarity and a mature ecosystem before facilitating client transactions.
Reported by @WatcherGuru on X.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
