Tom Lee, chairman of Ethereum treasury company Bitmine, said the crypto bull market has already begun and dates back to late June, according to PR Newswire. He attributed the move to several factors: capital rotating out of AI and back into crypto, stronger industry fundamentals tied to tokenization and AI, and the end of the four-year cycle. Lee also said ETH continues to widen its performance edge as a macro asset with just over a week left in the third quarter of 2026. In his view, Ethereum’s sharp outperformance versus other macro assets in Q3 2026 may signal a stronger rally in the fourth quarter. He added that institutional investors remain underallocated to crypto in 2026, partly because AI stocks were strong at the start of the year, and said he expects institutions to significantly increase crypto exposure in the final three months of 2026. That, he said, could leave more room for upside following gains since June 30.
According to PR Newswire, Bitmine chairman Tom Lee said the crypto bull market has already started and began in late June. He said the move has been driven by several factors, including capital rotating from AI back into crypto, strengthening crypto industry fundamentals around tokenization and AI, and the end of the four-year cycle.
Lee also said ETH continues to expand its performance advantage as a macro asset with a little more than one week left in the third quarter of 2026. In his view, ETH’s significant outperformance against other macro assets in Q3 2026 may point to a stronger advance in Q4 2026.
He added that institutional investors have remained underallocated to crypto in 2026, partly because AI stocks were strong at the beginning of the year. Lee said he expects institutions to materially increase crypto exposure in the final three months of 2026, which could leave further upside for gains recorded since June 30.
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