🔥 Tom Lee made a point about Ethereum that most people are not paying enough attention to. The Ethereum Foundation used to hold 17% of the ETH supply. Today, it holds only 100,000 ETH, or about 0.1% of supply. That is a huge shift. And according to Lee, it means the old funding model is no longer enough. Under a traditional foundation model, he estimates the Ethereum Foundation could support only around $10 million in grants. For a network trying to become the future of finance, that is tiny. But this is where the story gets interesting. BitMine, SharpLink, and other public Ethereum treasuries now own around 7% of the ETH supply. And because that $ETH can generate staking yield, Lee says these treasuries are producing about $500 million a year in rewards. That completely changes the game. Ethereum no longer has to depend on one foundation to fund everything. A wider network of public companies, treasury vehicles, staking rewards, ecosystem grants, L2 builders, and private-sector teams can now help support Ethereum’s growth. This is why Lee believes Ethereum is entering a new phase. Not a single foundation carrying the whole ecosystem. But an entire capital network forming around ETH.