Tom Lee: Ethereum Is the Best-Performing Asset Since the Middle East Crisis Began

Tom Lee said Ethereum has been the top-performing asset since the Middle East crisis, outpacing the S&P 500 by nearly 20 percentage points, and he projected a $60,000 ETH price target. Speaking at Paris Blockchain Week on May 5, 2026, Lee attributed future upside to tokenization and demand from agentic AI use cases on-chain, arguing these drivers create structural demand for Ethereum. BitMine has backed the thesis with sizable allocations—owning about 4% of ETH supply and pursuing a 5% stake—while Lee suggested macro signs (declining VIX, stabilizing oil) support a bull market that could run into 2028. The remarks combine an institutional outlook and price forecast that, if realized, could lift ETH prices and influence broader crypto positioning and flows.