23 hours ago
Sports betting level SharpLink Gaming has acquired 176,271 Ether for $463 million, becoming the world’s largest publically traded holder of ETH.
In a Friday announcement, the Nasdaq-listed institution said the Ether (ETH) acquisition was funded done a operation of backstage placement and at-the-market equity sales, including $79 cardinal raised since May 30. The mean acquisition terms came successful astatine $2,626 per coin.
The institution said implicit 95% of its ETH is present deployed successful staking and liquid staking platforms, earning output portion contributing to Ethereum’s web security.
“This is simply a landmark infinitesimal for SharpLink and for nationalist institution adoption of integer assets,” said Rob Phythian, CEO of SharpLink Gaming, adding that the institution present treats ETH arsenic its “primary treasury reserve asset.”
“MicroStrategy of Ether”
SharpLink’s determination mirrors Strategy’s Bitcoin (BTC)-buying strategy, but is centered connected Ethereum, making it the archetypal nationalist institution to follow ETH arsenic its halfway treasury reserve asset.
SharpLink (SBET) is the archetypal Nasdaq-listed steadfast to follow an ETH-based treasury model, aiming to connection shareholders “meaningful economical vulnerability to ETH,” the institution said.
“SharpLink’s bold ETH strategy represents a pivotal milestone and innovative attack to the organization adoption of Ethereum,” SharpLink president and Ethereum co-founder Joseph Lubin said successful the announcement.
“By allocating important superior to ETH and deploying it successful web activities specified arsenic staking, SharpLink is some contributing to Ethereum’s semipermanent information and spot properties portion earning further ETH for that work,” helium added.
Who holds much Ethereum than SharpLink?
While SharpLink has go the largest publically traded holder of Ether globally, immoderate entities are inactive holding much ETH.
According to Arkham data, the Ethereum Foundation present holds 214,129 ETH ($594 million) successful its treasury.
Crypto holdings by the Ethereum Foundation arsenic of June 13, 2025. Source: ArkhamSome crypto exchange-traded funds (ETFs) providers similar BlackRock besides clasp a importantly bigger magnitude of Ether, though connected behalf of clients. According to BlackRock data, the iShares Ethereum Trust ETF held astir 1.7 cardinal ETH arsenic of Thursday, worthy astir $4.5 billion.
Controversy implicit SharpLink’s ETH strategy
SharpLink’s ETH strategy has not travel without controversy. The company’s stock terms rocketed much than 400% aft its May 27 ETH treasury announcement, arsenic Cointelegraph reported.
Following the announcement of an S‑3 SEC filing earlier this week, shares plunged by astir 73% successful after‑hours trading connected Thursday, dropping from $32.53 to beneath $8 earlier partially rebounding, according to Google Finance. The crisp sell‑off was spurred by a misunderstanding: The filing allowed for the imaginable resale of astir 58.7 cardinal shares from PIPE participants; it was not an existent sale.
Related: Staked Ethereum hits all-time precocious arsenic ETH tops $2.7K
SharpLink president Lubin clarified that this was a regular regulatory procedure, not insider unloading.
Source: Joseph LubinThe acquisition follows a broader inclination of firm crypto treasury adoption, echoing Strategy’s high-profile Bitcoin strategy, but placing Ether astatine the halfway of integer superior reserves.
Magazine: China threatened by US stablecoins, G7 urged to tackle Lazarus Group: Asia Express
English (US) 