Tom Lee backs tokenization and agentic AI to drive ETH gains as accumulation continues

Tom Lee, the co-founder of Fundstrat, on September 8, 2026, said that Ethereum will gain on Bitcoin in the next couple of years as tokenization and agentic AI continue to mature. 

He made this claim as his company, Bitmine Immersion Technologies (NYSE: BMNR), disclosed the purchase of 28,086 ETH to reach 4.9% of ETH’s supply. The claim lands as a signal for institutions looking to pick between ETH and BTC, and it comes amid the recent climb of the ETH/BTC ratio from its multi-year lows.

Why Lee connected ETH’s coming growth to tokenization and AI agents

Lee, who serves as the chairperson of Bitmine’s board, sees Ether as more than a trade and as the plumbing needed for institutional finance. 

Tokenization, which is the movement of assets like Treasuries, equities, and real estate onto a blockchain, is the first key. Ethereum currently holds over $12 billion in tokenized U.S. Treasury products, and Lee sees this as proof that the network is more of a settlement and collateral layer than just a speculative chip.

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