Coin WorldMonday, Jul 14, 2025 2:20 am ET
1min read
SharpLink Gaming has significantly increased its Ethereum holdings, purchasing 16,374 ETH worth $48.85 million. This investment is part of a broader strategy initiated two months ago, backed by a $425 million private placement. Following this acquisition, SharpLink now holds over 270,000 ETH, making it the second-largest corporate holder of the digital asset, trailing only the Ethereum Foundation. The Minneapolis-based sports betting and entertainment tech company aims to integrate Ethereum deeply into its treasury infrastructure, positioning it as more than just an investment asset.
Ethereum’s price rebound has been influenced by growing institutional interest in decentralized finance (DeFi), staking, protocol-native yield strategies, and blockchain analytics. This surge in accumulation has mirrored Bitcoin’s recovery, highlighting the increasing institutional confidence in Ethereum.
SharpLink’s aggressive ETH purchases began on July 11 with the acquisition of 10,000 ETH for $25.7 million through a deal with the Ethereum Foundation. The next day, July 12, the company continued its buying spree, securing an additional 21,487 ETH across two major institutional platforms. The breakdown of these purchases includes 14,693 ETH from Galaxy Digital for $43.89 million and 6,804 ETH from Coinbase Prime for $20.37 million.
The Ethereum Foundation’s decision to sell ETH to SharpLink was met with mixed reactions within the crypto community. Critics viewed the move as a potential signal of declining confidence in Ethereum’s long-term value. However, Foundation contributors clarified that the sale was a strategic decision aimed at funding protocol research and development, ecosystem maintenance, and community grants. The proceeds from the sale are intended to support Ethereum’s ongoing development and growth.
SharpLink’s Ethereum strategy has already yielded significant short-term gains. The value of the company’s existing ETH investment has appreciated fivefold, resulting in $45 million in unrealized profits. Beyond financial gains, SharpLink has escrowed all of its ETH into the Hoppers DApp, actively contributing to Ethereum’s security and scalability through Proof-of-Stake participation and earning staking rewards. The company is also exploring restaking, a next-generation strategy that allows staked ETH to secure additional protocols and earn layered rewards.
In an interview, SharpLink chairman and Ethereum co-founder Joseph Lubin emphasized the firm’s long-term commitment to Ethereum. Lubin described SharpLink’s move as a template for how mission-driven organizations can contribute to shared goals such as decentralization, economic empowerment, and protocol-driven finance. The purchases reflect a calculated shift in where corporate value bets in blockchain should lie, moving beyond mere speculation.
Industry analysts suggest that SharpLink’s model could set a precedent for other businesses, particularly those interested in participating in open financial networks while generating profits. This approach underscores the growing trend of institutional involvement in the crypto space, driven by the potential for long-term value and strategic integration into corporate treasury infrastructures.
