Key Highlights
- SharpLink purchased 10,000 ETH, bringing its total holdings to 886,725 ETH.
- The company raised $75 million through a registered direct offering.
- SharpLink repurchased 2.13 million shares at an average price of $4.69.
Ethereum treasury company SharpLink (NASDAQ: SBET) has expanded its Ether reserves with the purchase of another 10,000 ETH, bringing its total holdings to 886,725 ETH, while simultaneously repurchasing more than 2.1 million shares under its ongoing stock buyback program.
The announcement comes days after the company completed a $75 million registered direct offering, providing fresh capital to continue executing its Ethereum treasury strategy. According to the company, the latest acquisition was completed at an average purchase price of approximately $1,611 per ETH.
As of June 28, SharpLink’s Ethereum treasury consisted of 632,719 native ETH, 181,299 ETH represented through lsETH, and 72,707 ETH represented through weETH. Together, these holdings make SharpLink one of the world’s largest publicly traded corporate holders of Ethereum.
$75 million raise fuels new ETH purchases
On June 22, the company said the $75 million registered direct offering strengthened its balance sheet while providing additional capital to continue accumulating ETH as a long-term reserve asset.
Commenting on the strategy, CEO Joseph Chalom said the company’s capital allocation framework remains focused on maximizing shareholder exposure to Ethereum. He said, “The successful completion of our $75 million registered direct offering last week has strengthened our balance sheet and provided the capital to support our active ETH treasury management strategy.”
He added that the company’s capital allocation strategy remains focused on increasing Ethereum holdings per share over the long term, describing it as a disciplined and straightforward approach
Alongside its Ethereum purchases, SharpLink also continued buying back its own shares. The company repurchased 2,132,773 common shares in the open market at an average price of $4.69 per share, bringing total repurchases under its buyback program to 4,071,223 shares since the initiative began in August 2025.
Institutional Ethereum push continues
SharpLink’s latest purchase builds on several Ethereum-focused initiatives announced over the past month. Earlier this month, the company joined BitMine and Ethereum co-founder Joseph Lubin in backing Ethlabs, a nonprofit research organization founded by former Ethereum Foundation contributors to accelerate Ethereum’s institutional adoption.
The company was also recently added to the Russell Indexes, a move expected to increase its visibility among institutional investors, passive index funds, and asset managers while helping broaden its shareholder base.
Together, these developments reinforce SharpLink’s long-term strategy of positioning itself as a leading institutional Ethereum treasury company.
ETH holds steady amid institutional buying
SharpLink’s continued Ethereum accumulation comes even as ETH remains under short-term market pressure.
At the time of writing, Ethereum was trading around $1,570, up roughly 0.69% over the past 24 hours, according to CoinMarketCap data. The cryptocurrency’s market capitalization stood near $189 billion, while 24-hour trading volume jumped nearly 13% to over $10.87 billion, reflecting elevated trading activity despite the modest price decline.
The contrast highlights a growing divergence between short-term market sentiment and long-term institutional positioning. While Ethereum’s price has softened in recent trading sessions, corporate treasury firms like SharpLink continue to increase their holdings, viewing ETH as a strategic reserve asset rather than a short-term speculative investment.
Corporate Ethereum treasury race intensifies
SharpLink’s latest acquisition reflects growing competition among publicly traded companies building dedicated cryptocurrency treasuries.
While Bitcoin treasury firms have dominated corporate crypto adoption over recent years, Ethereum-focused strategies are rapidly gaining momentum as institutions increasingly recognize Ethereum’s central role in powering stablecoins, tokenized real-world assets (RWAs), decentralized finance (DeFi), and blockchain-based financial infrastructure.
With 886,725 ETH now on its balance sheet, SharpLink continues strengthening its position as one of the world’s largest corporate Ethereum holders while executing a strategy centered on increasing ETH per share for long-term shareholders.
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