SharpLink Gaming, Inc. has announced the acquisition of 176,271 ETH, valued at $462.9 million. SharpLink is currently the largest publicly traded Ethereum holder, second only to the Ethereum Foundation.
SharpLink is the first Nasdaq-listed company to make Ethereum (ETH) the core of its treasury strategy. This move reflects its decision to adopt ETH as its primary reserve asset.
As per the press release, the company has raised money through a PIPE deal from May 26, 2025. Then, from May 30 to June 12, it sold shares through a $1 billion ATM equity program, raising around $79 million. The majority of funds have been used to buy Ethereum.
SharpLink has generated an 11.8% growth in ETH per share since June 2, 2025. More than 95% of SharpLink’s ETH is being used in staking and liquid staking. This means the ETH is helping secure the Ethereum network and earning rewards at the same time.
Rob Phythian, Chief Executive Officer of SharpLink Gaming, believes that this reflects strong confidence in Ethereum’s role in the future of digital commerce and decentralized applications. He added, “Our decision to make ETH our primary treasury reserve asset reflects deep conviction in its role as programmable, yield-bearing digital capital.”
Joseph Lubin, Chairman of SharpLink Gaming, Co-Founder of Ethereum, and CEO of Consensys, said that SharpLink’s bold ETH strategy marks a major turning point in how institutions are starting to adopt Ethereum.
As per him, this move comes at an important time, as the U.S. Congress is working on major legislation around stablecoins and digital assets. Lubin believes this could help accelerate the use of Ethereum technology around the world.
Also Read: Ethereum’s ‘Digital Oil’ Narrative Fuels $740K per ETH Price Chatter
