Sharplink Gaming has made a significant investment by acquiring 10,000 ETH directly from the Ethereum Foundation, totaling approximately $25.7 million. This move positions Sharplink as the largest publicly traded entity to embrace Ethereum as its primary treasury asset.
The acquisition took place on July 10, 2025, with the transaction being executed at an average price of $2,572.37 per ETH. The deal was formalized on-chain through the Ethereum Foundation’s multisig wallet, ensuring a secure transfer of assets.
NEW: SharpLink has acquired 10,000 $ETH directly from the Ethereum Foundation
The purchase closed at ~$25.7M, with $ETH acquired at an average price of ~$2,572
Ethereum is entering a new era of institutional relevance, and we’re proud to support its long-term strength and… pic.twitter.com/ow1e2PXQ1W
— SBET (SharpLink Gaming) (@SharpLinkGaming) July 11, 2025
This transaction exemplifies a growing trend among institutional players opting to invest directly in Ethereum rather than utilizing traditional open markets or OTC desks.
Ethereum Foundation’s ETH Sale Sparks Debate, But Focus Stays on Ecosystem Growth
The Ethereum Foundation confirmed the completion of this ETH sale, stating that the proceeds will be utilized to support its operational needs. These encompass ongoing protocol research, community grants, and infrastructure development essential to the Ethereum ecosystem.
Headquartered in Zug, Switzerland, the Ethereum Foundation holds a pivotal role in steering and supporting the evolution of Ethereum. Its ETH sales are infrequent and primarily aimed at raising funds for the enhancement of the network.
0/ Earlier this week, the EF finalized the terms of a 10,000 ETH sale at an average price of $2,572.37 via OTC.
For this sale, our OTC counterparty was @SharpLinkGaming.
— Ethereum Foundation (@ethereumfndn) July 11, 2025
Sharplink’s direct acquisition of ETH from the Foundation, bypassing traditional exchanges and OTC desks, marks a noteworthy and strategic shift. This action indicates a commitment to Ethereum’s long-term objectives, with plans for staking and restaking reinforcing support for the network.
Joseph Lubin, Chairman of Sharplink and also a co-founder of Ethereum and CEO of ConsenSys, stressed that this decision extends beyond a mere financial transaction.
“As Ethereum reaches a new level of institutional relevance, we are committed to supporting the network’s long-term strength and its mission of decentralization,” Lubin stated. “Sharplink is acquiring, staking, and restaking ETH as responsible stewards of the industry.”
Lubin emphasized that this move signals the initiation of a broader model in which mission-driven organizations invest in and back the networks upon which they rely. The strategy aims to diminish circulating supply while bolstering Ethereum’s security and stability.
In a separate development, blockchain data indicated that a suspected Ethereum Foundation address, 0xd779, sold 100 ETH via CoW Protocol. This ETH, initially moved from a Gnosis Safe, was swapped for 336,475 DAI, subsequently directed to a known Foundation address, 0x9eE4.
The Foundation’s ETH sales, while operationally focused, have recently attracted heightened scrutiny regarding their timing and frequency.
THE ETHEREUM FOUNDATION IS SELLING
BUT SHARPLINK GAMING IS BUYING $ETH pic.twitter.com/2PtPN6LGXZ
— Arkham (@arkham) July 11, 2025
The Foundation has consistently maintained transparency regarding its treasury management. While some market observers interpret these sales negatively, their stated aim remains focused on long-term development and community support.
Ethereum Rally Gains Momentum as Institutional Flows and Supply Shock Fuel $10K Price Target
As Ethereum’s market narrative evolves, a potential rally in ETH price is under consideration, with analysts eyeing a target of $10,000.
The cryptocurrency recently breached the $3,000 mark for the first time in five months, recording a rise of more than 15% within three days. This surge coincided with Bitcoin’s record performance, surpassing $118,000, which has positively influenced market sentiment.
However, Ethereum’s gains are not solely reliant on Bitcoin; the cryptocurrency is experiencing its unique momentum driven by robust technical indicators, inflows from institutional investors, and positive on-chain dynamics.
US spot Ethereum ETFs have seen five consecutive days of net inflows, amounting to over $623 million. BlackRock’s iShares ETH ETF achieved a single-day record of $300.9 million in inflows on Thursday.
#Ethereum Spot ETF flows have remained positive for the 8th consecutive week, with net inflows topping 61,000 $ETH pic.twitter.com/aTANkr4RCy
— glassnode (@glassnode) July 7, 2025
Bloomberg analyst Eric Balchunas noted that these figures represent a fourfold increase in the ETF’s typical volume, signaling substantial institutional interest.
Beyond the financial sector, Ethereum’s underlying fundamentals continue to strengthen. On-chain metrics show ETH balances on exchanges at their lowest level in eight years, currently at just 13.5%. This trend points to an impending “supply shock,” as substantial holders accumulate and secure their ETH for the long term.
Wallets containing over 100,000 ETH have added more than 700,000 ETH since late May, bringing total holdings to 18.8 million. This accumulation pattern signals growing investor confidence, with traders anticipating new price highs.
One notable analyst forecasted a breakout beyond $4,000 this summer, with a potential new all-time high around $5,700. A move towards $10,000 could follow a brief correction post-summer.
The $ETH summer roadmap is set:
We are headed back to $4k in short order.
Maybe pause around that level, and then we go for a new ATH which has measured target around $5.7k.
After summer ends, pause for a typical September correction, and then resume the send to $10k.
pic.twitter.com/uI4eGluG05
— Chris (@StonkChris) July 10, 2025
Another analyst succinctly stated, “$ETH IS GOING TO $10,000. And there’s nothing you can do about it.”
They called Bitcoin a bubble at $8K.
Now they say $ETH is “boring” at $2.4K.
Same disbelief. Same setup.
Ethereum to $10K+ is inevitable. pic.twitter.com/qedFntgTwH
— Merlijn The Trader (@MerlijnTrader) June 25, 2025
Technical indicators further reinforce this positive sentiment. Ethereum has surpassed key moving averages, historically a bullish sign, with the weekly RSI remaining well away from overbought conditions. Analysts suggest we may be entering “Wave 3” of a five-wave cycle, targeting $4,000 to $5,000 in the short term, and $10,000 could be attainable by early 2026.
The anticipation surrounding a possible $10,000 price point is drawing increasing conviction within the Ethereum community.
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