Ethereum News Today: SBET Surges 113.9% on 77,210 ETH Buy, Holdings Now 438,017

BlockBeats reported on July 28 that SharpLink Gaming (SBET), a U.S.-listed company, executed a $295 million purchase of 77,210 Ethereum (ETH) tokens in early trading hours, elevating its total ETH holdings to 438,017 coins. The acquisition marks a continuation of the company’s aggressive digital asset strategy, which has seen its stock price surge by 113.9% month-to-date and 186.3% year-to-date despite recent volatility. The move follows the appointment of Joseph Chalom, a former BlackRock executive, as Co-CEO, a decision intended to leverage his capital market expertise in expanding the firm’s crypto allocations [1].

The sharp rise in SBET’s stock value reflects broader market confidence in its cryptocurrency strategy, particularly amid institutional-grade management of digital assets. The company’s ETH holdings, now exceeding 438,000 coins, underscore its commitment to diversifying corporate treasury reserves into crypto. Analysts suggest that such large-scale purchases by publicly traded firms could signal growing institutional acceptance of Ethereum as a strategic asset class. However, the recent 9% pullback in SBET’s stock to $21.99 highlights inherent risks in market timing, even as long-term fundamentals remain robust [1].

Investors seeking exposure to SBET or similar assets can now utilize platforms like BiyaPay to trade U.S. stocks in real-time using stablecoins such as USDT. This feature bypasses the need for offshore account setups, aligning with the trend of fintech solutions streamlining cross-border transactions. The integration of fiat and crypto trading pathways further underscores the evolving convergence between traditional markets and blockchain ecosystems [1].

Source: [1] [BiyaPay: SBET Surges Over 110% in the Past Month, Ethereum Hodlers Reach 438,000 Coins] [https://www.theblockbeats.info/en/flash/304821]