Morgan Stanley, other top holders add Bitmine exposure amid sell-off

Bitmine’s top holders continued to increase exposure, showing steady institutional demand for the largest Ether treasury company from Wall Street heavyweights.

The largest shareholders of Bitmine Immersion Technologies (BMNR) stock increased their investments in the leading Ethereum treasury company in the fourth quarter of 2025 despite a wider crypto market crash and poor stock price performance.

Morgan Stanley, the top reported holder, raised its position by about 26% to more than 12.1 million shares, valued at roughly $331 million at quarter end, according to its Form 13F filing with the US Securities and Exchange Commission. ARK Investment Management, the second-largest holder, increased its stake by about 27% to more than 9.4 million shares worth roughly $256 million, its filing shows.

Several other top institutional holders also increased exposure. BlackRock increased its BMNR holdings by 166%, Goldman Sachs by 588%, Vanguard by 66%, and the Bank of America by a whopping 1,668%.

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