Sharplink Resumes ETH Buying After Eight Months With $7.85 Million Purchase at 2026 Low

Sharplink has returned to buying ETH for the first time since October 2025, picking up 5,000 ETH worth around $7.85 million on Thursday as the token hit its lowest price of the year at $1,537.

On-chain data from Arkham shows a wallet linked to Sharplink received the ETH from crypto prime brokerage FalconX the same firm it used for its last purchase eight months ago when it bought $78.3 million worth of ETH.

Three Catalysts Sharplink Is Watching

Sharplink CEO Joseph Chalom flagged three things back in May that he believed could drive ETH higher. The first is passage of the CLARITY Act the Senate has yet to vote but a House hearing is scheduled for July 17. The second is a return to broader risk appetite, which Chalom tied to easing geopolitical tension and a cooling of the AI investment frenzy. The third is continued growth in real-world asset tokenization, which has now hit $31.55 billion in distributed asset value, close to its highest level this year.

Sharplink Now Holds 876,285 ETH — But Bitmine Is Still Ahead

Sharplink now holds 876,285 ETH and ETH equivalents, accumulated through direct purchases and staking rewards. It was once the largest publicly traded corporate ETH holder but lost that title to Bitmine in August 2025. Bitmine currently holds 5.67 million ETH after adding another 52,203 last week.

“We continue to maintain a steady pace of accumulation throughout 2026. We believe we are in the early stages of crypto spring,” said Bitmine chairman Tom Lee.

The purchase also comes just days before Sharplink is expected to join the Russell 2000 and Russell 3000 indexes on Monday — a move that typically brings passive fund buying and expands the shareholder base.