SharpLink Nears $1 Billion in Ethereum Holdings After Latest 6,377 ETH Purchase
SharpLink, a Nasdaq-listed sports-tech company, is now among the largest corporate Ethereum holders, following another massive 6,377 ETH purchase this week. The buy, worth approximately $19.56 million, pushes SharpLink’s total Ethereum holdings to nearly 312,000 ETH, valued around $974 million at current prices.
This marks SharpLink’s latest in a streak of large Ethereum buys:
- July 15: 24,371 ETH for $73 million
- July 7-13: 74,656 ETH for $213 million
- Latest purchase: 6,377 ETH for $19.56 million
One notable highlight? SharpLink directly acquired 10,000 ETH from the Ethereum Foundation, underlining its growing role in Ethereum’s ecosystem.
The company’s accumulation strategy, launched after a $425 million private placement led by Consensys and major crypto funds, aims to position Ethereum as its primary treasury reserve asset—similar to MicroStrategy’s Bitcoin strategy.
Over 99% of SharpLink’s ETH is either staked or restaked, generating yield and contributing to Ethereum’s network security.
Ethereum co-founder Joseph Lubin, now its board chair, called the approach a “public market proxy for Ethereum exposure.”
At its current pace, it could soon surpass the Ethereum Foundation itself, which holds about $725 million in ETH. Its aggressive accumulation reflects a larger shift among corporations towards Ethereum as a programmable, yield-generating digital asset.
Investors are watching closely: its stock price jumped 14% in pre-market trading on Wednesday.
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