SharpLink Gaming (NASDAQ: SBET) boosted its Ethereum holdings by buying another 21,487 ETH, sparking a 17% jump in its stock price on Friday. This aggressive move adds to the company’s growing Ethereum treasury, valued at around $90 million.
SharpLink aims to become the “MicroStrategy of Ethereum.” The firm initially agreed to buy 10,000 ETH directly from the Ethereum Foundation but quickly followed up with this large OTC purchase on Coinbase Prime.
Now, SharpLink holds a total of 237,121 ETH, fueling a stunning 63% weekly gain in its stock price. Trading volumes surged to $53 million, showing strong investor confidence. Not far behind, Nasdaq-listed GameSquare announced its own $100 million Ethereum treasury strategy this week.
Meanwhile, asset manager BlackRock is making waves with massive ETH inflows into its iShares Ethereum ETF (ETHA). The ETF saw $761 million in inflows this week, including a $137 million boost on Friday alone, buying over 45,000 ETH.
BlackRock’s ETHA now holds over 2 million ETH, with assets under management reaching $6.15 billion. Another milestone was attained when its ETF surpassed the $1 billion mark in daily trading volume.
With these heavyweights buying, the Ethereum price increased by 15% last week, and it is approaching the resistance of $3,000. Market analysts are optimistic, with ETH futures open interest rising to 41 billion, indicating high demand.
The Ethereum treasury race is getting hot, and investors are keeping an eye
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