Ethereum News Today: SharpLink Buys 77210 ETH in 24 Hours Surpasses Ethereum's Monthly Issuance as Second-Largest Holder

Joe Lubin, co-founder of Ethereum and chairman of SharpLink Gaming, has declared an aggressive strategy to accumulate Ether (ETH) at a pace outpacing competitors, positioning the firm in a high-stakes race against Ethereum treasury projects like BitMine Immersion Tech. Speaking on Bloomberg Television, Lubin emphasized SharpLink’s commitment to maximizing ETH accumulation per diluted share, framing it as a superior approach compared to Bitcoin-focused initiatives. The company is currently amassing ETH through at-the-market transactions while staking existing holdings to compound value, leveraging its dual expertise in Ethereum infrastructure via Consensys and corporate treasury management [1].

SharpLink’s latest move—a $295 million purchase of 77,210 ETH in a 24-hour period—surpassed Ethereum’s monthly network issuance, elevating its total ETH holdings to 438,017 coins ($1.69 billion), placing it second among publicly traded entities behind BitMine’s 566,800 ETH ($2.13 billion). StrategicETHReserve data highlights the growing institutional concentration, with the top five Ethereum treasury projects collectively holding over 1.4 million ETH. Tom Lee, founder of BitMine, and Lubin’s rivalry has intensified, with both firms vying to dominate the ETH accumulation landscape as institutional demand surges [2].

The Ethereum treasury trend has accelerated demand pressure on ETH, contributing to its 110% surge over three months to $3,800, outperforming Bitcoin and Solana. Analysts attribute this to institutional FOMO, as major players secure positions ahead of potential ETF approvals. “This competition validates ETH’s institutionalization,” noted crypto cybersecurity expert Wilson Ye, highlighting the asset’s transition from speculative trading to core infrastructure [3].

SharpLink, however, is prioritizing risk management. Unlike some rivals, the firm currently operates with no leverage but is exploring convertible notes—a strategy mirroring Michael Saylor’s Bitcoin accumulation playbook. Lubin stressed a conservative approach, stating, “We remain prudent concerning risk levels,” while emphasizing long-term shareholder benefits. This contrasts with BitMine’s aggressive buying, which briefly saw it overtake SharpLink as the largest holder via a 137,515 ETH purchase [1].

The broader market impact of such large-scale institutional activity is notable. Ethereum’s deflationary design—underpinned by proof-of-stake and EIP-1559’s burn mechanism—has created scarcity dynamics, while ETF inflows over 17 consecutive days in July 2025 have fueled speculation about a $5,000 price target by year-end. SharpLink’s holdings now represent a significant fraction of Ethereum’s circulating supply, amplifying its influence on market liquidity and pricing.

Lubin’s leadership at SharpLink underscores a strategic alignment with Ethereum’s foundational ecosystem, potentially deepening collaboration between institutional investors and protocol developers. As the ETH accumulation race intensifies, the firm’s balance between aggressive buying and risk control will be critical in determining its ability to outpace rivals and shape Ethereum’s institutional trajectory.

[1] SharpLink Buys 77210 ETH and Surpasses Ethereum’s Monthly Issuance

https://www.cointribune.com/en/sharplink-buys-77210-eth-and-surpasses-ethereums-monthly-issuance/

[2] SharpLink Gaming Buys $295M in Ether, Tightens Grip as Second-Largest ETH Holder

https://thecoinrise.com/sharplink-gaming-buys-295m-in-ether-tightens-grip-as-second-largest-eth-holder/

[3] SharpLink Gaming Buys 77210 ETH, Treasury Over $1.6B

https://www.ccn.com/news/crypto/sharplink-gaming-eth-endorsement-consensys/