Three major Wall Street treasuries resumed cryptocurrency purchases this week, marking a significant shift in institutional sentiment. According to reports, Strive, BitMine, and MicroStrategy each disclosed fresh crypto purchases on Monday, with the two Bitcoin buyers alone spending more than $500 million in a single week. This represents a notable return to active accumulation after a period of reduced institutional activity in the cryptocurrency space.
Strive, run by chief executive Matt Cole, added 1,800 bitcoin (BTC) at an average of $79,431, bringing its total stack to 23,156 BTC worth about $1.83 billion. As reported, the filing shows the mechanism clearly after Strive issued 3,579,147 new Class A shares that week, with cash still climbing $11.6 million to $183.5 million. The company's strategy involves converting share sales into Bitcoin purchases, which benefits from rising coin prices.
BitMine purchased 53,501 ether (ETH), marking a 65th consecutive week of buying with a streak running back to June 2025. According to reports, the company has staked 5,067,309 ETH, or 86% of the pile, through MAVAN, its American validator network. Chairman Tom Lee projects $335 million to $390 million annually from this staking operation, with the company now holding 4.9% of ether supply, leaving it 133,888 tokens short of the 5% target Lee set.
The resumed buying coincides with a significant recovery in cryptocurrency fund flows. As reported by SoSoValue data, US spot bitcoin funds absorbed more than $3.3 billion in August, compared to $4.5 billion outflows in June. Ether funds followed a similar pattern, adding roughly $1.75 billion after two months of withdrawals. This fund flow recovery has been accompanied by price movements, with Bitcoin climbing 25.7% over the month and ether rising 33.3%.
The renewed treasury buying reflects broader institutional confidence in cryptocurrency markets. According to Bank of America, crypto funds drew $3.2 billion in inflows last week, marking their largest weekly intake since October 2025. This suggests growing optimism in the market, with Bitcoin trading near $78,818 on Monday. The shift comes as foreign investors pulled 10.17 trillion won from Korean equities in August, while volumes on Upbit, the country's largest exchange, jumped roughly eightfold.
