SharpLink Gaming (SBET) has significantly strengthened its crypto strategy by boosting its Ethereum treasury to 188,478 ETH, valued at approximately $470 million at current market prices. The move positions SharpLink as the largest publicly traded holder of ETH, reflecting its strategic pivot toward blockchain-based treasury diversification.
$30.7M ETH Purchase Funded via Share Sale
Between June 16 and June 20, SharpLink acquired 12,207 ETH for $30.7 million at an average price of $2,513 per ETH. The purchase was funded through an at-the-market (ATM) offering, raising $27.7 million by selling 2.5 million+ shares to institutional and retail investors.
“This ETH acquisition shows our conviction in Ethereum’s long-term utility,” said company leadership in the announcement.
SharpLink Adopts Saylor-Style Treasury Model
SharpLink’s ETH-centric treasury model closely mirrors the Bitcoin accumulation strategy pioneered by Strategy (MSTR). The Minneapolis-based gaming tech firm joins a growing list of public companies integrating crypto into their financial architecture.
Earlier this month, SharpLink raised $450 million in private funding from notable firms like ConsenSys, Galaxy Digital, and Pantera Capital. This round further reinforced its crypto ambitions and helped finance its ETH strategy.
Joseph Lubin Joins Board as ETH Holdings Grow
Ethereum co-founder Joseph Lubin, also CEO of ConsenSys, was appointed board chairman at SharpLink. His involvement underscores the firm’s deepening ties with Ethereum’s core ecosystem.
As part of its commitment, all ETH holdings have been staked, with SharpLink earning 120 ETH in staking rewards. The company reported a 19% increase in ETH per share since implementing this strategy.
“We believe Ethereum’s evolution will unlock transformative value for our shareholders,” said Lubin in a statement.
What This Means for Investors and the Market
With Ethereum trading around $2,446, SharpLink’s holdings give it significant exposure to future ETH price movements. This strategic asset allocation could boost stockholder value and inspire other public companies to diversify into crypto treasuries, particularly Ethereum.
As institutional interest in ETH rises, SharpLink’s bold positioning may prove visionary—paving the way for a new era of ETH-backed corporate finance.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.