28-7-2025 – Nasdaq-listed SharpLink Gaming has acquired 77,210 ETH for $295 million, bringing its total Ethereum holdings to 438,017 ETH, valued at approximately $1.69 billion, according to a company announcement on X. This purchase solidifies SharpLink’s position as the largest publicly traded holder of Ethereum, surpassing even the Ethereum Foundation.
The acquisition, first reported by Lookonchain, is part of SharpLink’s aggressive strategy to make Ethereum its primary treasury reserve asset. Since pivoting to this approach in May 2025, following a $425 million private placement led by Consensys, the company has rapidly accumulated ETH. Led by Ethereum co-founder Joseph Lubin as chairman, SharpLink is staking over 95% of its holdings to generate yield and support network security. The move aligns with a broader trend of public companies integrating cryptocurrencies into their balance sheets, inspired by MicroStrategy’s Bitcoin strategy.
SharpLink(@SharpLinkGaming) bought another 77,210 $ETH($295M) and currently holds 438,017 $ETH($1.69B).https://t.co/143CVq5E6U pic.twitter.com/Oa4dQ9XFGF
— Lookonchain (@lookonchain) July 28, 2025
This latest buy comes amid Ethereum’s price surge, recently hitting a 2025 high above $3,800. SharpLink’s stock (SBET) has also seen significant volatility, climbing over 300% year-to-date but facing occasional sell-offs tied to equity offerings.
