Ethereum News Today: BitMine Surpasses SharpLink as Largest Corporate ETH Holder with 566,776 Tokens

SharpLink and BitMine are accelerating their Ethereum (ETH) treasury accumulation strategies, signaling a pivotal shift in institutional crypto adoption. Both firms have executed multi-billion-dollar purchases, with BitMine surpassing SharpLink as the largest corporate ETH holder, now controlling 566,776 ETH valued at $2 billion. SharpLink, meanwhile, is preparing to add $145 million worth of ETH to its existing treasury of 360,807 tokens, following a significant USDC transfer to Galaxy Digital’s OTC wallet. These moves reflect a broader trend of institutional players leveraging Ethereum’s smart contract infrastructure and supply dynamics to diversify balance sheets and hedge against macroeconomic risks.

The rapid accumulation by these entities is tightening Ethereum’s circulating supply, raising concerns about liquidity and price volatility. Analysts note that large-scale treasury purchases reduce available ETH on exchanges, potentially driving prices upward. COINOTAG’s research team highlights that this strategy mirrors Bitcoin’s institutionalization playbook, where firms like MicroStrategy have historically influenced price trajectories through aggressive accumulation. However, Ethereum’s unique supply model—where annual issuance is tied to staking rewards and network upgrades—creates a different dynamic compared to Bitcoin’s fixed supply. Galaxy Digital warns that the current pace of institutional buying could trigger a "supply shock," reducing ETH’s availability and potentially outpacing Bitcoin’s performance in six months [6].

Despite these bullish signals, Ethereum faces immediate challenges. A surge in staking node exits has led to a 0.42% price decline on July 25, disrupting a nine-day winning streak. Validator queue congestion and delays in processing staking rewards underscore the network’s scaling pressures. Yet, the long-term outlook remains optimistic. Ethereum’s integration of Ethereum 2.0 upgrades, coupled with institutional strategies emphasizing treasury diversification, positions the asset to benefit from both speculative inflows and real-world adoption. Leadership moves further reinforce this narrative: SharpLink’s executive team includes former BlackRock executive Joseph Chalom and Ethereum co-founder Joseph Lubin, signaling deep institutional confidence in ETH’s utility as a store of value [9].

The competitive dynamics between SharpLink and BitMine highlight a growing corporate rivalry in the crypto space. By collectively controlling a significant portion of Ethereum’s supply, these firms could influence market psychology and speculative activity. For instance, SharpLink’s recent purchase coincided with Ethereum’s expanding exit queue, where investors closely monitor staking and treasury allocations for directional cues [2]. This interplay between institutional accumulation and market sentiment may accelerate Ethereum’s adoption as a reserve asset, particularly amid persisting macroeconomic uncertainties.

Critically, the absence of explicit price targets in the data means forecasts remain speculative. While Galaxy Digital’s projection of Ethereum outperforming Bitcoin within six months is notable, it reflects analytical optimism rather than a guaranteed outcome [6]. Institutional participation, however, is undeniably reshaping Ethereum’s narrative. By locking up significant portions of the supply in treasuries, entities like SharpLink and BitMine are effectively reducing sell pressure, a factor that could stabilize and eventually elevate ETH’s price over time.

Sources:

[1] [SharpLink Allocates $145M USDC to Buy ETH as Price Rises 4%](https://www.ainvest.com/news/ethereum-news-today-sharplink-allocates-145m-usdc-buy-eth-price-rises-4-institutional-adoption-2507/)

[2] [Ethereum Exit Queue Surges, Investors Watch Closely](https://m.economictimes.com/crypto-news-today-live-26-jul-2025/liveblog/122911908.cms)

[6] [Real-Time Crypto News, Latest Cryptocurrency Updates](https://www.coinglass.com/news)

[9] [Latest News on Bitcoin, Altcoins & Market Updates](https://cryptoadventure.com/news/)