SharpLink Gaming is going all-in on Ethereum. The Nasdaq-listed company has just added 12,207 ETH to its growing crypto treasury, investing approximately $30.6 million at an average price of $2,513 per token.
This move follows a much larger acquisition earlier this month, where the firm snapped up 176,270 ETH for around $463 million. With this latest buy, SharpLink now holds a staggering 188,478 ETH, making it the largest publicly traded holder of Ethereum—and the second-largest ETH holder globally, behind only private entities and large whales.
A Clear Bet on Ethereum’s Future
SharpLink’s chairman, Joseph Lubin, called the move a “forward-thinking strategy” focused on long-term value creation for shareholders. He emphasized that Ethereum’s growing utility and role in decentralized applications make it a critical asset for the company’s future.
“This move reflects our confidence in Ethereum’s utility and our commitment to exploring transformative technologies that can unlock new value,” said Lubin.
The company isn’t stopping here. SharpLink also announced that it raised an additional $27.7 million by selling common stock, with most of those funds earmarked to further expand its Ethereum holdings.
Institutions Join the ETH Accumulation Trend
SharpLink isn’t the only one betting big on ETH. Major institutions like BlackRock recently disclosed a $50 million Ethereum buy, while on-chain data shows large wallets continuing to accumulate—one adding $39 million in ETH just last week.
Despite the bullish activity, Ethereum’s price remains under pressure, currently trading around $2,420—roughly 34% below its yearly high. Still, the steady wave of accumulation from both institutions and whales suggests strong belief in the long-term potential of the Ethereum ecosystem.
