SharpLink Becomes Second-Largest Corporate Holder of Ethereum
SharpLink Gaming has shocked the crypto world with its massive $295 million Ethereum (ETH) purchase, acquiring 77,210 ETH in a single transaction. The purchase surpasses Ethereum’s net issuance over the past 30 days, which stood at just 72,795 ETH, according to Ultra Sound Money.
“SharpLink’s ETH accumulation strategy signals a bold treasury shift toward digital assets,” analysts observed.
Following this acquisition,SharpLink’s total ETH holdings now exceed 438,000 ETH, valued at over $1.69 billion, according to on-chain data from Lookonchain. Most of the newly acquired ETH has already been staked, generating passive yield from Ethereum’s proof-of-stake network.
This aggressive ETH accumulation comes amid rising concerns over a potential Ethereum supply squeeze. With institutional buyers and ETF-related inflows increasing, the available ETH on exchanges is shrinking.
“Corporate ETH buys could lead to reduced supply, pressuring prices upward,” say market strategists.
BitMine Immersion Technologies, the largest corporate holder, currently holds 566,000 ETH and has announced plans to eventually hold 5% of Ethereum’s total supply—a staggering 6 million ETH, currently worth over $23 billion.
Leadership Backed by Wall Street Experience
SharpLink’s crypto strategy is being reinforced by high-profile leadership hires. Joseph Chalom, a 20-year BlackRock veteran, was recently appointed as co-CEO, tasked with expanding the firm’s global strategy. Additionally, Joseph Lubin, CEO of ConsenSys, was named chairman of the board earlier this year.
“Ethereum never sleeps — banks close on weekends,” the company stated in a recent post, emphasizing its confidence in decentralized infrastructure.
SharpLink’s Strategic Stock Sale to Fuel More ETH Buys
The company also filed to increase its stock offering from $1 billion to $6 billion, aiming to use most of the proceeds for further ETH purchases. This move solidifies SharpLink’s status as a major player in Ethereum’s institutional adoption wave.
With ETH supply tightening and corporate adoption growing, SharpLink’s aggressive stance may set the tone for a new era of crypto treasury management.
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.
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