SharpLink Gaming Boosts Ethereum Holdings by 13.5% with $90 Million Purchase SBET Stock Surges 17.5%

SharpLink Gaming has significantly bolstered its Ethereum holdings with the acquisition of 31,487 ETH, valued at $90 million. This purchase includes an initial agreement with the Ethereum Foundation to acquire 10,000 ETH, followed by an additional 21,487 ETH purchased from the open market through over-the-counter deals on Coinbase Prime. Following these transactions, SharpLink’s total Ethereum holdings have reached 237,121 ETH, positioning the company as one of the largest corporate holders of Ethereum. This aggressive approach to ETH accumulation reflects a structured strategy aimed at establishing a strong Ethereum treasury.

SharpLink’s Ethereum purchases have triggered a notable response in the stock market. The SBET stock closed Friday with a 17.5% gain, bringing its weekly performance to a 63% increase. This price surge aligns with investor confidence in SharpLink’s long-term ETH-focused treasury plan. Market participants appear to recognize the company’s intention to treat Ethereum as a core financial asset, viewing crypto holdings as a balance sheet strength.

SharpLink’s bold strategy has started influencing other Nasdaq-listed companies. GameSquare announced a $100 million Ethereum treasury plan earlier this week. While SharpLink leads in actual ETH holdings, competitors are beginning to explore similar paths to build crypto-backed reserves. BlackRock has also entered the space through its iShares Ethereum ETF (ETHA). This week, ETHA recorded $761 million in inflows and now holds over 2.045 million ETH. On Friday alone, the ETF saw $137 million in inflows.

The growing interest in ETH treasuries comes amid a broader bullish sentiment in the Ethereum market. ETH price gained 17.55% this week and hovered near the $3,000 resistance. Institutional accumulation led by SharpLink signals a shift in how public firms approach Ethereum. With large purchases and direct market deals, these firms are laying the groundwork for a treasury model that could reshape corporate crypto adoption.