SharpLink has added to its already huge Ethereum holdings with one other multimillion-dollar buy this week, persevering with a shopping for streak that has turned the sports-tech agency into one of many largest recognized company holders of ETH.
On Wednesday, the Nasdaq-listed firm bought 6,377 ETH, price about $19.56m at present costs. That brings SharpLink’s complete to almost 312,000 ETH, valued at roughly $974m, primarily based on Wednesday’s value of $3,122.98 per coin.
The newest purchase follows a 24,371 ETH buy made on July 15, a $73m outlay. Between July 7 and July 13, SharpLink picked up one other 74,656 ETH for $213m, averaging $2,852 per coin.
SharpLink Buys 10K ETH Immediately From Ethereum Basis
In probably the most notable transactions, the corporate immediately acquired 10,000 ETH from the Ethereum Basis.
SharpLink(@SharpLinkGaming) purchased one other 6,377 $ETH($19.56M) as we speak.
Up to now 7 days, they've gathered 91,330 $ETH($275M).https://t.co/8pOfvpDWym pic.twitter.com/NGepBvYcP4— Lookonchain (@lookonchain) July 16, 2025
Since late Might, SharpLink has been accumulating Ethereum in giant batches, typically shifting funds on-chain by main centralized exchanges and over-the-counter addresses. This deliberate technique suggests a long-term view, probably tied to expectations of main value strikes or upcoming upgrades to the Ethereum protocol.
The corporate’s pivot into Ethereum marks a strategic shift. Whereas it stays centered on its core enterprise in sports activities betting and iGaming, SharpLink is now utilizing ETH as its main treasury reserve asset. That call got here after a $425m non-public placement led by Consensys, with participation from Pantera Capital, Electrical Capital and ParaFi Capital. The transfer was first introduced on Might 27, 2025.
SharpLink Nears Ethereum Basis in Holdings Measurement
CEO Rob Phythian has framed the acquisitions as a defining second for public firm engagement with crypto. He mentioned over 99% of SharpLink’s Ethereum holdings are staked or restaked in protocols to generate yield whereas supporting the safety of the Ethereum community.
Ethereum co-founder and Consensys CEO Joseph Lubin, who now chairs SharpLink’s board, has described the agency’s technique as a public-market proxy for Ethereum publicity, much like MicroStrategy’s strategy with Bitcoin. Lubin emphasised Ethereum’s significance for decentralized purposes and digital commerce, pointing to favorable U.S. laws as a serious tailwind.
With its every day shopping for spree exhibiting no indicators of slowing, SharpLink might quickly overtake the Ethereum Basis itself, which at the moment holds round $725m price of ETH. The corporate’s positioning displays a broader pattern, as companies more and more look past Bitcoin and towards Ethereum as a programmable, yield-bearing asset.
Buyers are taking discover. SharpLink’s inventory was up greater than 14% in pre-market buying and selling on Wednesday.
The submit SharpLink Pushes Previous 310,000 ETH With Newest Buys — What’s Driving the Shopping for Frenzy? appeared first on Cryptonews.