On Tuesday, SharpLink Gaming, which has the second-largest ethereum treasury, announced an update on its stockpile and recent capital raise.Â
The firm accumulated 56,533 ethereum tokens last week at an average purchase price of $4,462, increasing its total holdings to 797,704 tokens worth roughly $3.7 billion.
The announcement also said SharpLink raised $360.9 million in net proceeds through its at-the-market facility and has $200 million of undeployed cash on hand. The updates come after the company’s board approved a $1.5 billion stock buyback program.
Meanwhile, spot ethereum ETFs trading in the US started the week in the black, seeing more than $443.9 million in positive inflows on Monday. BlackRock’s iShares Ethereum Trust ETF recorded almost $315 million in inflows, accounting for nearly 71% of yesterday’s total, data from SoSoValue shows.Â
The inflows into the ethereum funds were more than double Monday’s inflows for spot bitcoin ETFs, which saw their balance rise by $219 million.
Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.
