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.Thomas (Tom) Lee (not drummer) FundstratDirect.com thinks stablecoins were only the beginning of Ethereum’s next major story. “Stablecoins was the 2025 story.” “Tokenization to me is so much bigger than stablecoins.” “I think that’s where investors are underestimating how important it is to have a really secure settlement layer.”... show more

Bankless

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28,118 views • 26 days ago •via X (Twitter)

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13 Comments

Ethereum Community Foundation26 days ago

@fundstrat Narrator: All the serious work did not take place on Solana.

THC Humor 💹🧲26 days ago

@fundstrat Stablecoins may have just been the opening act

Lucid25 days ago

@fundstrat Stablecoins proved that Ethereum can become a settlement layer for global money. Tokenization takes that one step further by bringing the assets themselves onchain.

BrainAt2AM26 days ago

@fundstrat

🧠 Fred | PocketIQ | Free AI Trading26 days ago

@fundstrat ⤴️ Now act.

Motherlode25 days ago

@fundstrat lol please. ever do a transaction using ethereum? try trading $10 in ethereum, it will cost you $6 to do it. oh the value! 🤣🤣🤣

David Arnal26 days ago

@fundstrat The overlooked variable is not just issuance volume but settlement finality. If tokenized assets scale, Ethereum’s value accrual may hinge on becoming the neutral, always-on base layer institutions trust for high-value settlement.

Agent Rails25 days ago

@fundstrat The tokenization part nobody prices in: settlement finality vs. the legal wrapper. Moving a bond token in 12 seconds doesn't help if the registry updates T+2. Plumbing has to agree, not just

Marcus | Macro Strategist26 days ago

@fundstrat tokenizing assets on eth is still just rent-seeking on a settlement layer you dont control. same old crap, different wrapper.

Harley Lewis Foote25 days ago

@fundstrat The settlement layer is the one part of this that already works.

IronRed | SandHive26 days ago

@fundstrat What validation checks would you require before a tokenization protocol can be deemed a secure settlement layer for autonomous agents?

RealWorldTokenSpace25 days ago

@fundstrat Agreed on direction. Here is the bit that keeps getting priced at zero. Two exchanges wrap staked ETH. One pays 2.39%, the other 2.30%. Nine basis points apart. We score them 85 and 31. Secure is not a property of the chain. It is a property of whoever is holding the keys.

납득이 | The Understander25 days ago

@fundstrat 스테이블이 시작이었다면, 토큰화가 다음 장이라는 정리죠~

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Bitwise CIO Matt Hougan: “Ethereum is the leading play on stablecoins & tokenization” “People still talk more about stablecoins than they do about tokenization. Tokenization is a bigger market!" "I think people are underestimating the uptick.”

Bitwise CIO Matt Hougan: “Ethereum is the leading play on stablecoins & tokenization” “People still talk more about stablecoins than they do about tokenization. Tokenization is a bigger market!" "I think people are underestimating the uptick.”

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109,943 views • 1 month ago

.Thomas (Tom) Lee (not drummer) FundstratDirect.com's 10-year vision for Bitmine (NYSE-BMNR) $ETH $BMNP is a bet on Ethereum becoming the dominant chain for tokenization and AI. “We made a bet that Ethereum will be the place where a lot of this will take place.” “I think our legacy is really helping Ethereum remain the most important of the chains in that future.” “Should $ETH flip bitcoin:native ? I think it’s a very plausible argument.” “If it’s $50,000 or $100,000 or $200,000, the returns to our shareholders are gonna be legendary.”

.Thomas (Tom) Lee (not drummer) FundstratDirect.com's 10-year vision for Bitmine (NYSE-BMNR) $ETH $BMNP is a bet on Ethereum becoming the dominant chain for tokenization and AI. “We made a bet that Ethereum will be the place where a lot of this will take place.” “I think our legacy is really helping Ethereum remain the most important of the chains in that future.” “Should $ETH flip bitcoin:native ? I think it’s a very plausible argument.” “If it’s $50,000 or $100,000 or $200,000, the returns to our shareholders are gonna be legendary.”

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.Thomas (Tom) Lee (not drummer) FundstratDirect.com isn’t taking a side yet on EIP-8363: “Are we over rewarding the cost of security? And is it unfairly burdening those who aren’t staking? I think it’s a fair question.” “I think that it is unknown where the optimization curve is.” “On the flip side, I understand the argument that there’s the risk of a lot of unintended consequences and volatility.” “If there was no yield on Ethereum, there’s still plenty of ways to generate yield.”

.Thomas (Tom) Lee (not drummer) FundstratDirect.com isn’t taking a side yet on EIP-8363: “Are we over rewarding the cost of security? And is it unfairly burdening those who aren’t staking? I think it’s a fair question.” “I think that it is unknown where the optimization curve is.” “On the flip side, I understand the argument that there’s the risk of a lot of unintended consequences and volatility.” “If there was no yield on Ethereum, there’s still plenty of ways to generate yield.”

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TOM LEE: THIS IS THE ETH BOTTOM TOM DEMARK’s signal is clear. One undercut to ~$1,890 completes the base. TOM LEE’s message: You don’t sell here. You position. 🔹 Bottoming phase 🔹 Historical analogs (2018, 2022, 2025) 🔹 Wall Street choosing public chains 🔹 Stablecoins, AI, creators converging on ETH Private chains aren’t the plan. Public rails are. Major financial institutions are coming. Ethereum is the settlement layer. $ETH $BMNR Thomas (Tom) Lee (not drummer) FundstratDirect.com

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52,130 views • 7 months ago

Can Ethereum 100x and flip Bitcoin? According to Tom Lee ( Thomas (Tom) Lee (not drummer) FundstratDirect.com ), yes. "There is a significant probability that Ethereum could flip Bitcoin in terms of network value.’"

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117,208 views • 1 year ago

The ETH thesis for Thomas (Tom) Lee (not drummer) FundstratDirect.com is simple. He's frontrunning ETH accumulation by the banks. "Ethereum is also the architecture that future banks will have. When goldman issues a stablecoin and JPMorgan doing it on Ethereum as Layer 1 blockchain they're going to want to secure it by staking Ethereum so, we're trying to get in front of that by creating an Ethereum treasury vehicle." Why is Tom Lee converting a bitcoin mining company to an ETH treasury and staking company? Simple. The banks will have stablecoins. The stablecoins will deploy on Ethereum. And so...the banks will acquire & stake ETH to secure their stablecoins. First commercial banks buy and stake. Then central banks buy and stake ETH. ETH becomes a world reserve asset. He's frontrunning the obvious ETH accumulation trend - just as he did with bitcoin many years ago. Bullish ETH.

The ETH thesis for Thomas (Tom) Lee (not drummer) FundstratDirect.com is simple. He's frontrunning ETH accumulation by the banks. "Ethereum is also the architecture that future banks will have. When goldman issues a stablecoin and JPMorgan doing it on Ethereum as Layer 1 blockchain they're going to want to secure it by staking Ethereum so, we're trying to get in front of that by creating an Ethereum treasury vehicle." Why is Tom Lee converting a bitcoin mining company to an ETH treasury and staking company? Simple. The banks will have stablecoins. The stablecoins will deploy on Ethereum. And so...the banks will acquire & stake ETH to secure their stablecoins. First commercial banks buy and stake. Then central banks buy and stake ETH. ETH becomes a world reserve asset. He's frontrunning the obvious ETH accumulation trend - just as he did with bitcoin many years ago. Bullish ETH.

RYAN SΞAN ADAMS

474,333 views • 1 year ago

Bitwise CIO Matt Hougan: “Ethereum is the leading play on stablecoins and tokenization” “The community had gone somewhat astray and was in the depths of despair earlier this year with a super long technical roadmap and accusations of being ‘ivory tower’, and now they’re much more tasked on the market. I think they’re shipping better. I think the community is focused on investors. I think it’s their market to lose on stablecoins and tokenization, so I’m very bullish on ETH and own a lot of it — it’s the second largest position in our crypto index fund. Very very bullish.” Matt believes the market is underestimating tokenization in particular: “You have the chair of the SEC saying the entire market will move onto blockchain-based rails. You have the CEO of the largest asset manager saying every asset will be tokenized. And yet, people still talk more about stablecoins than they do about tokenization. Tokenization is a bigger market. There’s $100 trillion of equities. There’s more of that of bonds. There’s even more of that in real estate. Those are enormous markets. The New York Stock Exchange, NASDAQ, CBOE, BlackRock, Goldman Sachs, J.P. Morgan — they’re all focused on this space. I just think it will happen faster than people think. I come from the ETF industry, and people were hugely skeptical of that as an evolution in financial markets. I saw the same sort of grassroots-level adoption there that I’m seeing in tokenization. I think people are underestimating the uptick.” Source: MR SHIFT 🦁 (Jan 2026)

Bitwise CIO Matt Hougan: “Ethereum is the leading play on stablecoins and tokenization” “The community had gone somewhat astray and was in the depths of despair earlier this year with a super long technical roadmap and accusations of being ‘ivory tower’, and now they’re much more tasked on the market. I think they’re shipping better. I think the community is focused on investors. I think it’s their market to lose on stablecoins and tokenization, so I’m very bullish on ETH and own a lot of it — it’s the second largest position in our crypto index fund. Very very bullish.” Matt believes the market is underestimating tokenization in particular: “You have the chair of the SEC saying the entire market will move onto blockchain-based rails. You have the CEO of the largest asset manager saying every asset will be tokenized. And yet, people still talk more about stablecoins than they do about tokenization. Tokenization is a bigger market. There’s $100 trillion of equities. There’s more of that of bonds. There’s even more of that in real estate. Those are enormous markets. The New York Stock Exchange, NASDAQ, CBOE, BlackRock, Goldman Sachs, J.P. Morgan — they’re all focused on this space. I just think it will happen faster than people think. I come from the ETF industry, and people were hugely skeptical of that as an evolution in financial markets. I saw the same sort of grassroots-level adoption there that I’m seeing in tokenization. I think people are underestimating the uptick.” Source: MR SHIFT 🦁 (Jan 2026)

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23,402 views • 1 month ago

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🚨 BEAST INDUSTRIES CEO ON BITMINE On CNBC, JEFF HOUSENBOLD explained why BITMINE is involved and what matters. 🔹 Bitmine invested 🔹 Ethereum underpins stablecoins 🔹 Stablecoins lower cost of capital 🔹 DeFi expands access and global capital movement 🔹 Beast Industries reaches ~1.45B users and is moving into financial services The structure is clear: Education → accounts → credit → assets Stablecoins as the settlement layer Ethereum as the base infrastructure Bitmine positioned via Ethereum staking This isn’t a product launch. It’s a distribution engine adding money rails. That’s why BITMINE matters. $BMNR $ETH Thomas (Tom) Lee (not drummer) FundstratDirect.com

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100,848 views • 6 months ago

Bitwise CIO Matt Hougan: “Ethereum is the leading play on stablecoins and tokenization” “The community had gone somewhat astray and was in the depths of despair earlier this year with a super long technical roadmap and accusations of being ‘ivory tower’, and now they’re much more tasked on the market. I think they’re shipping better. I think the community is focused on investors. I think it’s their market to lose on stablecoins and tokenization, so I’m very bullish on ETH and own a lot of it — it’s the second largest position in our crypto index fund. Very very bullish.” Matt believes the market is underestimating tokenization in particular: “You have the chair of the SEC saying the entire market will move onto blockchain-based rails. You have the CEO of the largest asset manager saying every asset will be tokenized. And yet, people still talk more about stablecoins than they do about tokenization. Tokenization is a bigger market. There’s $100 trillion of equities. There’s more of that of bonds. There’s even more of that in real estate. Those are enormous markets. The New York Stock Exchange, NASDAQ, CBOE, BlackRock, Goldman Sachs, J.P. Morgan — they’re all focused on this space. I just think it will happen faster than people think. I come from the ETF industry, and people were hugely skeptical of that as an evolution in financial markets. I saw the same sort of grassroots-level adoption there that I’m seeing in tokenization. I think people are underestimating the uptick.” Ethereum has 61.4% market share of all tokenized assets ($206.2 billion). Source: MR SHIFT 🦁 (Jan 2026)

Bitwise CIO Matt Hougan: “Ethereum is the leading play on stablecoins and tokenization” “The community had gone somewhat astray and was in the depths of despair earlier this year with a super long technical roadmap and accusations of being ‘ivory tower’, and now they’re much more tasked on the market. I think they’re shipping better. I think the community is focused on investors. I think it’s their market to lose on stablecoins and tokenization, so I’m very bullish on ETH and own a lot of it — it’s the second largest position in our crypto index fund. Very very bullish.” Matt believes the market is underestimating tokenization in particular: “You have the chair of the SEC saying the entire market will move onto blockchain-based rails. You have the CEO of the largest asset manager saying every asset will be tokenized. And yet, people still talk more about stablecoins than they do about tokenization. Tokenization is a bigger market. There’s $100 trillion of equities. There’s more of that of bonds. There’s even more of that in real estate. Those are enormous markets. The New York Stock Exchange, NASDAQ, CBOE, BlackRock, Goldman Sachs, J.P. Morgan — they’re all focused on this space. I just think it will happen faster than people think. I come from the ETF industry, and people were hugely skeptical of that as an evolution in financial markets. I saw the same sort of grassroots-level adoption there that I’m seeing in tokenization. I think people are underestimating the uptick.” Ethereum has 61.4% market share of all tokenized assets ($206.2 billion). Source: MR SHIFT 🦁 (Jan 2026)

Etherealize

72,881 views • 5 months ago

Tom Lee made his market open debut today on the show and we discussed a variety of topics including Ethereum & Bitmine: - Why $ETH could be the biggest macro trade of the next decade - How $BMNR is growing the NAV & ETH per share at an accelerated pace - Ethereum end of year targets Thank you to Tom Thomas (Tom) Lee (not drummer) FundstratDirect.com for taking the time to join the show, we all deeply appreciated it!

Tom Lee made his market open debut today on the show and we discussed a variety of topics including Ethereum & Bitmine: - Why $ETH could be the biggest macro trade of the next decade - How $BMNR is growing the NAV & ETH per share at an accelerated pace - Ethereum end of year targets Thank you to Tom Thomas (Tom) Lee (not drummer) FundstratDirect.com for taking the time to join the show, we all deeply appreciated it!

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718,463 views • 1 year ago

TOM LEE: ETHEREUM SHOULD KEEP OUTPERFORMING BITCOIN “I think the ratio between Ethereum to Bitcoin should continue to rise. At a minimum it should go back to its old high of 0.08.” Tom Thomas (Tom) Lee (not drummer) FundstratDirect.com believes the next five years of crypto will increasingly revolve around: 🔹 Tokenization 🔹 Agentic AI 🔹 Traditional finance moving onchain And he thinks much, potentially most, of that activity will happen on Ethereum. Bitcoin remains his digital gold play. But Ethereum is where he sees the next major wave of financial infrastructure being built. $ETH $BMNR

TOM LEE: ETHEREUM SHOULD KEEP OUTPERFORMING BITCOIN “I think the ratio between Ethereum to Bitcoin should continue to rise. At a minimum it should go back to its old high of 0.08.” Tom Thomas (Tom) Lee (not drummer) FundstratDirect.com believes the next five years of crypto will increasingly revolve around: 🔹 Tokenization 🔹 Agentic AI 🔹 Traditional finance moving onchain And he thinks much, potentially most, of that activity will happen on Ethereum. Bitcoin remains his digital gold play. But Ethereum is where he sees the next major wave of financial infrastructure being built. $ETH $BMNR

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43,283 views • 20 days ago

I asked Thomas (Tom) Lee (not drummer) FundstratDirect.com the uncomfortable question directly: why is #Ethereum lagging this badly? The most bullish ETH voice on Wall Street didn't dodge it, didn't blame the haters. He gave the most honest diagnosis I've heard: "The AI story is maybe further out than people hope. And the tokenization story — it's still really relevant because stablecoins are doing well and banks are experimenting, but we haven't seen a big transfer of actual financial services activity onto the blockchain." That's it. Not broken: late. The two legs the whole thesis stands on are taking longer to arrive than the market priced in. Add the drawdown context — "#Bitcoin's done poorly, and a lot of this is after October 10th. Investors' money flows have reversed", plus a year of narrative drift while Solana took the profile wins, and the underperformance stops being a mystery. What I respect: he owns the delay and keeps the thesis. Most people do the opposite, abandon the thesis to explain the price. "Early" and "wrong" look identical on a chart. They only separate later.

Michaël van de Poppe

66,236 views • 1 month ago

One of the more fascinating parts of my conversation with Caitlin Long 🔑⚡️🟠 was on Ethereum winning the tokenization battle: " Thomas (Tom) Lee (not drummer) FundstratDirect.com is one of the famous $ETH bulls and his theory is big institutions ... are going to pick Ethereum and a lot of that is coming true"

One of the more fascinating parts of my conversation with Caitlin Long 🔑⚡️🟠 was on Ethereum winning the tokenization battle: " Thomas (Tom) Lee (not drummer) FundstratDirect.com is one of the famous $ETH bulls and his theory is big institutions ... are going to pick Ethereum and a lot of that is coming true"

Zack Guzmán

204,402 views • 29 days ago

Tom Lee (Thomas (Tom) Lee (not drummer) FundstratDirect.com) predicts $7K $ETH by Q1 2026, but Markus Thielen isn't buying it. Markus Thielen says the projection is unlikely, arguing that "very little value actually accrues to the Ethereum network" from stablecoins. Thank you Genius Group Ltd 👌 for being a sponsor of the CoinDesk Media Network.

Tom Lee (Thomas (Tom) Lee (not drummer) FundstratDirect.com) predicts $7K $ETH by Q1 2026, but Markus Thielen isn't buying it. Markus Thielen says the projection is unlikely, arguing that "very little value actually accrues to the Ethereum network" from stablecoins. Thank you Genius Group Ltd 👌 for being a sponsor of the CoinDesk Media Network.

CoinDesk

115,131 views • 10 months ago

Tom Lee: AI is stealing crypto's spotlight - but that's not the full story. "Crypto is still a really important downstream story to AI..." "Wall Street has an outdated tech stack that they want to upgrade and that is going to be built on crypto rails." Price is lagging, but the crypto adoption story hasn't broken. FT Anthony Scaramucci Thomas (Tom) Lee (not drummer) FundstratDirect.com All Things Markets SkyBridge.

Tom Lee: AI is stealing crypto's spotlight - but that's not the full story. "Crypto is still a really important downstream story to AI..." "Wall Street has an outdated tech stack that they want to upgrade and that is going to be built on crypto rails." Price is lagging, but the crypto adoption story hasn't broken. FT Anthony Scaramucci Thomas (Tom) Lee (not drummer) FundstratDirect.com All Things Markets SkyBridge.

Milk Road

21,077 views • 2 months ago

"Investors are underestimating how long this war is going to be and how deep it could get, and I think that now is not the time to think that you're going to buy some good deals," Portfolio Wealth Advisors' Lee Munson says. Investors should "wait for a widespread liquidation."

"Investors are underestimating how long this war is going to be and how deep it could get, and I think that now is not the time to think that you're going to buy some good deals," Portfolio Wealth Advisors' Lee Munson says. Investors should "wait for a widespread liquidation."

Yahoo Finance

18,494 views • 6 months ago

Goldman Sachs CEO and former U.S. Treasury Secretary: Stablecoins will be “enormous” “You can use stablecoins to very effectively — particularly in small transactions; big transactions you use FedWire — to go from US dollar stablecoins to euros or yen or other things. I think it is enormous, and I think the stablecoin legislation is a big step in the right direction,” says former U.S. Secretary Treasury Steven Mnuchin. Goldman Sachs CEO David Solomon agrees: “Higher speed, less friction.” Both also agree that stablecoins are not a threat to the U.S. dollar, and will in fact strengthen it. Mnuchin explains: “If you have stablecoins that are backed by U.S. Treasuries, I don’t think the U.S. needs to issue its own stablecoin. I think you’re going to see enormous use cases for these.” “And enormous demand for the dollar over time,” Solomon adds. “To me, [stablecoins] strengthen the moat around the dollar and the dollar’s position as the global reserve currency.” Roughly 52% of all stablecoins live on Ethereum (~$163 billion). If you exclude Tron, Ethereum’s stablecoin dominance jumps to 71%. Source: Goldman Sachs (Mar 2026)

Goldman Sachs CEO and former U.S. Treasury Secretary: Stablecoins will be “enormous” “You can use stablecoins to very effectively — particularly in small transactions; big transactions you use FedWire — to go from US dollar stablecoins to euros or yen or other things. I think it is enormous, and I think the stablecoin legislation is a big step in the right direction,” says former U.S. Secretary Treasury Steven Mnuchin. Goldman Sachs CEO David Solomon agrees: “Higher speed, less friction.” Both also agree that stablecoins are not a threat to the U.S. dollar, and will in fact strengthen it. Mnuchin explains: “If you have stablecoins that are backed by U.S. Treasuries, I don’t think the U.S. needs to issue its own stablecoin. I think you’re going to see enormous use cases for these.” “And enormous demand for the dollar over time,” Solomon adds. “To me, [stablecoins] strengthen the moat around the dollar and the dollar’s position as the global reserve currency.” Roughly 52% of all stablecoins live on Ethereum (~$163 billion). If you exclude Tron, Ethereum’s stablecoin dominance jumps to 71%. Source: Goldman Sachs (Mar 2026)

Etherealize

36,586 views • 5 months ago

Ethereum could easily double from here. If we get the SEC tokenization innovation, exemption that the rumor mail is saying we anticipate Ethereum will be the biggest out performer due to its direct correlation with the tokenization thesis. Tom Lee has been harping on this on CNBC and fast money for multiple years now and we think it is set to come true imminently. I’m bullish Tom, I’m bullish BitMine, and I’m Bullish Ethereum. Thomas (Tom) Lee (not drummer) FundstratDirect.com $ETH $BMNR

Ethereum could easily double from here. If we get the SEC tokenization innovation, exemption that the rumor mail is saying we anticipate Ethereum will be the biggest out performer due to its direct correlation with the tokenization thesis. Tom Lee has been harping on this on CNBC and fast money for multiple years now and we think it is set to come true imminently. I’m bullish Tom, I’m bullish BitMine, and I’m Bullish Ethereum. Thomas (Tom) Lee (not drummer) FundstratDirect.com $ETH $BMNR

Andy

52,509 views • 9 days ago