SharpLink Makes Bold ETH Bet With Massive Purchase Spree
SharpLink Gaming Inc. (SBET) has made a headline-grabbing move by becoming the largest corporate holder of Ethereum, overtaking even the Ethereum Foundation itself. In a stunning treasury expansion, the Nasdaq-listed firm now holds 280,706 ETH, valued at roughly $858 million at current market rates.
Between July 7 and July 13, SharpLink acquired 74,656 ETH at an average price of $2,852, spending around $156 million. The company also bought 10,000 ETH directly from the Ethereum Foundation the previous week, signaling a deepening commitment to its new Ethereum-focused strategy.
According to data from Arkham, the Ethereum Foundation currently holds about 196,354 ETH, worth nearly $591 million, placing SharpLink well ahead.
NEW: SharpLink becomes the largest $ETH holder among corporate entities
— SBET (SharpLink Gaming) (@SharpLinkGaming) July 15, 2025
Between July 7 and July 13, SharpLink acquired ~74,656 ETH for ~$213M at an average price of ~$2,852 per ETH
Total holdings now stand at ~280,706 ETH
~99.7% of ETH is staked, earning ~415 ETH since June 2… pic.twitter.com/2yknUWgkLJ
NEW: SharpLink becomes the largest $ETH holder among corporate entities
— SBET (SharpLink Gaming) (@SharpLinkGaming) July 15, 2025
Between July 7 and July 13, SharpLink acquired ~74,656 ETH for ~$213M at an average price of ~$2,852 per ETH
Total holdings now stand at ~280,706 ETH
~99.7% of ETH is staked, earning ~415 ETH since June 2… pic.twitter.com/2yknUWgkLJ
Equity Raise Fuels Historic Crypto Purchase
The acquisition was funded through an "at-the-market" (ATM) share sale, which raised $413 million between July 7 and July 11. Of that total, $257 million remains available, suggesting that further ETH purchases could follow. Following the announcement, SBET shares jumped 10%, as per Yahoo Finance.
SharpLink began its corporate Ethereum treasury strategy in May, when it raised $425 million in a private placement led by Consensys. As part of the move, Consensys CEO and Ethereum co-founder Joseph Lubin was named SharpLink's chairman—a powerful endorsement of the company’s crypto-centric future.
Staking and New Metrics Drive Investor Transparency
The company has staked 99.7% of its ETH holdings, earning 415 ETH in rewards, including 94 ETH just last week. This aggressive approach reflects a strategy not only to hold but also grow its treasury through staking yield.
To help investors assess its ETH exposure, SharpLink introduced a new "ETH concentration" metric, which currently stands at 2.46 ETH per 1,000 diluted shares outstanding—a 23% increase from last month.
SharpLink’s Ethereum Strategy Sets New Precedent
With its record-breaking holdings, SharpLink is leading a new wave of public companies prioritizing Ethereum over traditional reserves. The firm joins others like BitMine Immersion and Bit Digital in aiming to become the largest publicly traded ETH holders globally.
These moves mimic Michael Saylor’s Bitcoin playbook, but with a twist: Ethereum is now the asset of choice, and staking rewards offer an additional layer of yield on top of appreciation potential.
SharpLink’s strategy could influence more publicly traded firms to pivot toward Ethereum and explore alternative treasury models.
