SharpLink Buys $213 Million in Ethereum Becoming Largest Corporate Holder

SharpLink, a U.S.-based technology company, has made a significant move in the cryptocurrency market by acquiring $213 million worth of Ethereum (ETH) in July. This purchase has positioned SharpLink as the largest corporate holder of Ethereum, with a total holding of over 280,000 ETH. The acquisition, which took place between July 7 and July 13, involved the purchase of approximately 74,656 ETH at an average price of $2,852 per ETH.

SharpLink's aggressive buying activity underscores a growing trend among corporations diversifying their digital asset portfolios beyond Bitcoin. The company's investment in Ethereum reflects its long-term commitment to blockchain infrastructure, staking rewards, and decentralized finance applications. Nearly all of SharpLink's ETH holdings, approximately 99.7%, are currently staked or restaked, earning passive yield. Since June 2, the company has earned around 415 ETH through staking activities.

The yield strategy is a core component of SharpLink’s treasury allocation, positioning Ethereum not just as a reserve asset but as an income-generating part of its digital strategy. The company has not disclosed specific staking providers or restaking platforms, but the scale of its participation suggests involvement with major Ethereum infrastructure layers, possibly including liquid staking protocols.

Ethereum concentration among institutional players and corporate entities has been rising steadily. Since June 13, ETH concentration by top holders has increased by approximately 23%, partly influenced by SharpLink’s large-scale acquisitions. With the Ethereum price hovering near $2,850 during the accumulation period, SharpLink’s entry adds weight to a broader narrative of institutional confidence in ETH as a long-term asset.

While Bitcoin has historically dominated corporate balance sheets, Ethereum’s versatility—ranging from smart contracts and decentralized finance (DeFi) to tokenization—continues to attract strategic capital allocations. SharpLink’s move is already drawing attention from analysts who view the purchase as maturing institutional interest in Ethereum’s infrastructure and yield potential.

SharpLink embarked on its Ethereum treasury strategy in late May, coinciding with a $425 million private placement led by Consensys, the crypto infrastructure firm founded by Ethereum co-founder Joseph Lubin. Lubin also took on the role of SharpLink’s chairman. Beyond building its treasury, SharpLink has expressed its commitment to supporting Ethereum’s long-term strength and decentralization.