SharpLink Gaming Acquires 10,000 ETH for 25.7 Million USD, Shares Rise 10%

SharpLink Gaming has completed the acquisition of 10,000 ETH for its treasury reserve, marking a significant milestone in the institutional adoption of cryptocurrencies. The purchase, finalized on July 10, 2025, was executed at a rate of $2,572.37 per ETH, totaling approximately $25.7 million. This strategic move positions SharpLink Gaming as a key player in the cryptocurrency market, particularly within the Ethereum ecosystem.

The acquisition was made directly from the Ethereum Foundation through an over-the-counter (OTC) deal, a method that avoids immediate market slippage. This approach allows for the acquisition of a large position without causing significant price fluctuations that would occur on open-market exchanges. The ETH will be used for staking and restaking, aligning with SharpLink Gaming's broader strategy to integrate blockchain technology into its operations. This move not only demonstrates the company's confidence in Ethereum but also highlights the growing institutional interest in cryptocurrencies.

The Ethereum Foundation's decision to sell 10,000 ETH was part of its routine treasury management policy, which dictates ETH sales when the fiat portion of the Foundation’s reserves drops below targets linked to annual operational expenses and runway duration. This policy ensures that the Foundation maintains financial stability and can continue to support the development and growth of the Ethereum ecosystem. The sale was not driven by speculative market conditions but was a pre-planned action to rebalance the Foundation's holdings.

Joseph Lubin, Chairman of SharpLink Gaming and co-founder of Ethereum, emphasized that this acquisition is not a short-term trade but a long-term commitment to the Ethereum ecosystem. "This isn't a trade – it is a commitment to our long-term vision. SharpLink is acquiring, staking and restaking ETH as responsible industry stewards, removing supply from circulation and reinforcing the health of the Ethereum ecosystem," Lubin stated. This move is expected to strengthen Ethereum's network security and decentralization, potentially influencing other corporations to consider similar investments.

The transaction has sparked increased institutional interest in Ethereum, with SharpLink Gaming's shares soaring as much as 50% and settling 10% higher post-announcement. This reflects the broader trend among major firms toward adopting cryptocurrencies as primary reserve assets. The move by SharpLink Gaming signals a high level of conviction in Ethereum, which could influence future regulatory and technological developments in the industry. The direct purchase from the Ethereum Foundation sets a precedent for future large-scale acquisitions, potentially shaping the landscape of institutional involvement in the cryptocurrency space.