Coin WorldMonday, Aug 4, 2025 1:06 am ET
1min read
SharpLink Gaming has significantly expanded its Ethereum holdings, acquiring 31,941 ETH valued at $108.6 million through two large USDC transfers executed via Galaxy Digital’s OTC desk [1]. The purchase, confirmed by blockchain analytics firm Arkham Intelligence, brings SharpLink’s total ETH reserves to over 470,000, positioning it as the second-largest corporate Ethereum holder globally [2]. This strategic move was made during a recent market dip, with Ethereum’s price falling from a local high of $3,900, creating an attractive entry point for long-term investors [3].
The transactions were routed through Galaxy’s over-the-counter platform, a method favored for large-volume trades due to its discretion and reduced market impact. The same wallet address, 0xCd9e09B30d481cc33937CE33fEB3d94D434F5F75, has previously acquired over $800 million in ETH for SharpLink, demonstrating the company’s consistent accumulation strategy [4]. This pattern aligns with broader institutional trends, as corporate Ethereum reserves have now surpassed $10 billion in total value, with BitMine holding the largest share at 625,000 ETH [5].
SharpLink’s expansion of its Ethereum treasury reflects a broader shift in institutional investment behavior, particularly toward Ethereum’s tokenization capabilities and decentralized finance infrastructure. Tom Lee, chair of BitMine, has highlighted Ethereum’s legal clarity and technological stability as key factors attracting institutional capital [6]. The company’s strategy of purchasing during price corrections, combined with the use of OTC desks to avoid market slippage, is seen as a model for institutional investors seeking to build long-term exposure without disrupting broader market dynamics.
The growing trend of corporate Ethereum accumulation suggests continued confidence in the asset’s future utility and value. As institutional investors like SharpLink continue to scale their holdings, the Ethereum market is likely to see further stabilization and increased adoption. The recent transactions also indicate that companies are prioritizing strategic purchasing over short-term volatility, reinforcing Ethereum’s role as a foundational digital asset in the crypto ecosystem.
[1] https://en.coinotag.com/sharplink-gaming-possibly-expands-ethereum-holdings-amid-market-dip-surpassing-470000-eth/
