TLDR
- SharpLink Buys 11K ETH, Now Holds $1.74B in Ethereum, SBET Stock Jumps 3.17%
- SharpLink Grows ETH Treasury to 449K Coins, Mirroring MicroStrategy Tactics
- SBET Surges as SharpLink Adds $43M in ETH, Total Holdings Near $1.74 Billion
- SharpLink’s ETH Bet Pays Off: $386M Unrealized Gains, 567 ETH Earned from Staking
- SharpLink Joins ETH Elite with 449K Coins, Driving Institutional Crypto Trend
SharpLink Gaming, Inc. (NASDAQ: SBET) shares advanced 3.17% to $20.18 by 10:25 AM EDT after confirming a major Ethereum acquisition.
The company acquired 11,259 ETH valued at $43.09 million through Galaxy Digital, strengthening its growing crypto holdings. This strategic move elevated SharpLink’s total Ethereum reserves to 449,276 ETH, worth roughly $1.74 billion.
Ethereum (ETH) Acquisition Pushes SharpLink’s Treasury Strategy Forward
SharpLink executed the transaction using 43.09 million USDC in an over-the-counter deal facilitated by Galaxy Digital. The company paid an average of $3,827 per ETH, showing commitment to its aggressive crypto accumulation plan. This acquisition follows a recent $295 million ETH purchase made earlier in the same week.
JUST IN: 🇺🇸 Publicly traded SharpLink Gaming buys another 11,259 $ETH worth $42.5 million. pic.twitter.com/camzdDAUtx
— Whale Insider (@WhaleInsider) July 31, 2025
SharpLink continues building a significant Ethereum treasury using large capital transfers followed by structured crypto buys. It previously bought 77,210 ETH, also through Galaxy Digital. These calculated moves indicate a deliberate treasury allocation pattern modeled after MicroStrategy’s bitcoin strategy.
Since June, SharpLink has transferred over $145 million in USDC to execute Ethereum purchases at regular intervals. Blockchain analysis from EmberCN confirms the repetitive cycle of USDC funding followed by ETH purchases. Public wallet activity and on-chain tracking support these ongoing transactions and strategy patterns.
Ethereum Holdings Reach 449,276 as SBET Stock Climbs
With the latest buy, SharpLink now holds 449,276 ETH, giving it one of the largest public Ethereum treasuries globally. At current prices, the total value exceeds $1.73 billion, placing SharpLink ahead of most corporate holders. Its average cost basis stands at $3,011 per ETH, yielding an unrealized gain of nearly $386 million.
The firm also stakes part of its ETH, earning 567 ETH in rewards between June 2 and July 20. This approach not only builds long-term crypto exposure but also generates yield on idle assets. SharpLink’s ongoing strategy boosts both its treasury value and passive earnings.
SBET shares responded positively, rising in both pre-market and early trading after the acquisition became public. Market reaction aligns with rising Ethereum spot ETF inflows, which reached $2.18 billion last week. This highlights increased institutional traction and validates SharpLink’s long-term outlook on Ethereum.
Ethereum’s Market Momentum and Institutional Adoption Continue
Ethereum remains a focal point in digital finance due to growing demand from public companies and institutional platforms. The US SEC’s recent stance confirming staking is not a securities transaction offered further regulatory clarity. This regulatory shift contributed to the broader acceptance and expansion of Ethereum-based financial activity.
Large firms like The Ether Machine also increased their holdings, buying 15,000 ETH worth $57 million to exceed 334,000 ETH. Ethereum treasuries now surpass $10 billion across 64 companies, reflecting the surge in adoption among major players. This trend demonstrates the rising relevance of ETH as both an asset and infrastructure.
SharpLink’s strategy signals strong confidence in Ethereum’s long-term value and its function as foundational Web3 infrastructure. Market momentum, combined with strategic acquisitions, continues to reshape how public companies manage digital assets. As ETH demand expands, SharpLink stands positioned as a central corporate player in the ecosystem.
