SharpLink Gaming has bolstered its Ethereum portfolio with a significant acquisition valued at approximately $49 million.
Key Highlights:
SharpLink Gaming has enhanced its Ethereum reserves with a new purchase worth $49 million.
The company initiated its Ethereum treasury strategy in May, backed by a substantial $425 million private placement.
With this latest move, SharpLink has become the second-largest corporate holder of Ethereum.
Data from Arkham Intelligence indicates that on Sunday afternoon, SharpLink received 16,374 ETH, which was acquired from a wallet that recently purchased these tokens on the over-the-counter market from Galaxy Digital.
While SharpLink has not officially confirmed this latest acquisition, analysts at EmberCN estimate the firm’s holdings now stand at approximately 270,000 ETH. This follows a prior acquisition of 21,487 ETH valued at $63.7 million, showcasing the company’s rapid accumulation of the cryptocurrency.
SharpLink Implements Ethereum Treasury Strategy
Originally based in Minneapolis, SharpLink has shifted its focus as it embarks on a new Ethereum treasury strategy, initiated in late May.
This strategic pivot coincided with a $425 million private placement led by Consensys, the crypto infrastructure company founded by Ethereum co-founder Joseph Lubin, who also serves as SharpLink’s chairman.
In addition to enhancing its treasury, SharpLink has expressed its dedication to fostering the long-term strength and decentralization of Ethereum.
The firm’s stock price has been influenced positively by its increased exposure to cryptocurrency, rising 17.15% to close at $21.65 last Friday, partly due to the announcement of a 10,000 ETH purchase.
Additionally, Joe Lubin, co-founder of Ethereum, stated that SharpLink has been acquiring tens of millions of dollars’ worth of ETH daily. “We are accumulating more and more consistently — we’re able to acquire tens of millions of dollars in Ether a day,” Lubin remarked in a Finance Newso interview.
This aggressive accumulation marks a significant shift for SharpLink. CEO Rob Phythian disclosed in May that the company would extend its operations beyond traditional pastimes, having sold about $425 million in stock to investors, including Consensys.
BREAKING: SHARPLINK GAMING (SBET) NOW ON ARKHAM
We have identified $450M in Sharplink Gaming’s ETH holdings. We are the first to publicly identify their holdings on-chain.
Sharplink Gaming, backed by Joseph Lubin (Cofounder Ethereum & Founder Consensys), are one of the first… pic.twitter.com/sGC6YvPJwU
— Arkham (@arkham) June 25, 2025
The proceeds from the stock placement are designated for Ethereum acquisitions, positioning ETH as SharpLink’s primary treasury reserve asset.
Currently, SharpLink ranks as the second-largest corporate Ethereum holder, falling just behind the Ethereum Foundation and ahead of firms like Coinbase.
Ethereum has been maintaining steady gains, trading close to $2,981, nearing its highest point since early February, reflecting the increasing investor confidence that SharpLink is leveraging.
Increasing Interest in Crypto from Public Companies
Inspired by models like that of Michael Saylor, an increasing number of public companies are diversifying their portfolios to include various cryptocurrencies such as BTC, ETH, SOL, and XRP.
Recently, BIT Mining announced plans to raise between $200 million and $300 million to establish a Solana (SOL) treasury as part of its broader strategy to expand into the rapidly evolving blockchain landscape.
In a similar vein, DeFi Development Corp. disclosed its acquisition of $2.7 million worth of Solana as part of its proactive crypto treasury procurement.
Moreover, Canadian digital asset firm Sol Strategies, which is already trading on the Canadian Securities Exchange, holds more than 420,000 SOL tokens, positioning itself as a significant institutional participant within the Solana ecosystem.
Last month, Sol Strategies also filed to list its common shares on the Nasdaq Capital Market under the ticker “STKE,” as it intensifies its expansion efforts in the United States.
The post SharpLink Gaming Boosts Ethereum Holdings with Another $48.85M Purchase appeared first on Finance Newso.
