SharpLink Receives 145M USDC from Circle for ETH Backing

SharpLink, a company known as the "ETH version of MicroStrategy," has received 145 million USDC from Circle. This may be used for additional minting to support Ethereum (ETH). SharpLink currently holds 360,900 ETH, worth approximately $1.34 billion.

SharpLink Gaming, Inc. (Nasdaq: SBET), a leading corporate holder of Ethereum (ETH), has recently secured an additional $145 million in USDC from Circle. This funding is expected to be used for additional minting to support Ethereum (ETH) [1].

As of July 2, 2025, SharpLink currently holds 360,900 ETH, valued at approximately $1.34 billion. The company's aggressive acquisition strategy has seen it add nearly 80,000 ETH last week alone, bringing its total holdings to over $1.3 billion [2].

SharpLink's latest move is part of a broader trend among publicly traded companies to create and augment Ethereum treasuries. Other notable companies, such as Bit Digital (BTBT) and BitMine Immersion, have also recently increased their ETH holdings. Bit Digital, for instance, purchased approximately 19,683 ETH, while BitMine Immersion surpassed $1 billion in ETH holdings after adding $500 million in ETH [2].

The appointment of Joseph Chalom, former Head of Digital Assets Strategy at BlackRock, as co-CEO of SharpLink further underscores the company's strategic commitment to Ethereum. Chalom's expertise in bridging traditional finance and crypto markets positions SharpLink to navigate regulatory and market challenges effectively [3].

SharpLink's treasury strategy, which aligns with the Ethereum ecosystem, is designed to enhance shareholder value through disciplined execution and opportunistic price acquisition. The company aims to continue increasing its ETH concentration, with a target of 1 million ETH [1].

As Ethereum navigates upgrades to its proof-of-stake model, companies like SharpLink are betting on the long-term utility and stability of the blockchain network. The appointment of Chalom and the influx of USDC from Circle reflect broader institutional confidence in Ethereum's potential [3].

References:
[1] https://www.ainvest.com/news/ethereum-news-today-sharplink-appoints-blackrock-digital-assets-head-ceo-boost-ethereum-treasury-strategy-2507/
[2] https://decrypt.co/331238/ethereum-sharplinks-holdings-1-3-billion-atest-eth-purchase
[3] https://wublock.substack.com/p/wublockchain-weekly-ethereum-micro