SharpLink Gaming Acquires 188,478 ETH, Becomes Largest Publicly Traded Holder

SharpLink Gaming, Inc. has made a significant move in the digital asset landscape by acquiring 188,478 ETH, positioning itself as the largest publicly traded holder of Ethereum. This strategic acquisition, effective June 25, 2025, is part of the company's treasury strategy and reflects a strong belief in Ethereum's growth potential. The purchase was backed by major financial entities, including ConsenSys and Galaxy Digital, and involved a $450 million private funding round. This move underscores SharpLink's confidence in Ethereum as a vital digital asset, potentially influencing other companies' crypto strategies and impacting market perceptions.

SharpLink's acquisition of 188,478 ETH is a testament to its commitment to enhancing its treasury reserves and solidifying its position as a major player in digital asset holdings. The company, led by CEO Rob Phythian, has made significant investments to bolster its ETH holdings, including an additional 12,207 ETH purchased between June 16 and June 20, 2025, for approximately $30.6 million. This brings the company's total ETH holdings to 188,478, with an average price per ETH of $2,513 during the acquisition period. To fund this purchase, SharpLink raised approximately $27.7 million in net proceeds through its At-The-Market facility, selling 2,547,180 shares of its common stock. A majority of these proceeds will be used to further increase the company's ETH treasury holdings.

SharpLink's ETH purchase aligns with increased staking activity, further securing the Ethereum network and generating additional yield for the company. As of June 20, 2025, 100% of SharpLink’s ETH holdings have been deployed in staking solutions, generating 120 ETH rewards since the company launched its ETH-focused treasury strategy on June 2, 2025. Since that date, SharpLink has achieved ETH per share growth of 18.97%. This strategic move highlights Ethereum's potential as a primary asset reserve strategy amid evolving market trends, with institutions increasingly viewing Ethereum as essential digital capital. The financial implications include strategic partnerships and increased ETH per share value, reflecting Ethereum's growing importance in the digital asset landscape.

SharpLink's acquisition of Ethereum mirrors similar strategic shifts seen in Bitcoin acquisitions by public companies, suggesting a broader adoption of Ethereum within corporate treasury strategies. This move is driven by expected future growth and utility, with experts indicating that SharpLink’s decision could encourage more companies to consider Ethereum-focused treasuries. The focus on ETH and its yield-generating capability might offer significant returns against historical trends and industry predictions. Rob Phythian, CEO of SharpLink Gaming, Inc., stated, "This is a landmark moment for SharpLink and for public company adoption of digital assets. We believe Ethereum is foundational infrastructure for the future of digital commerce and decentralized applications. Our decision to make ETH our primary treasury reserve asset reflects deep conviction in its role as programmable, yield-bearing digital capital."

Joseph Lubin, Chairman of the Board of SharpLink and Co-Founder of Ethereum, emphasized the strategic importance of this move. "Increasing SharpLink’s ETH holdings underscores our forward-thinking approach to creating long-term value for our stockholders," he stated. "As digital assets like ETH increasingly shape the future of finance and technology, we’re positioning SharpLink at the intersection of blockchain advancement and next-generation iGaming engagement. This move reflects our confidence in Ethereum’s utility and our commitment to exploring transformative technologies that can unlock new value for our business and stockholders, alike."

SharpLink Gaming, Inc. is headquartered in Minneapolis, Minnesota. The company is not only the world’s largest publicly traded company to adopt Ethereum as its primary treasury reserve asset but is also reimagining the future of online gaming and sports betting. Backed by a veteran team with deep roots in sports media, gaming, and technology, SharpLink is building scalable, secure, and transparent solutions that challenge outdated models and bring real innovation to the betting experience. By leveraging smart contracts, DeFi protocols, and Web3 infrastructure, SharpLink intends to assume the lead in transforming the multi-billion-dollar iGaming industry into a more dynamic, efficient, and equitable ecosystem. Rob Phythian, SharpLink’s Chief Executive Officer, added, "SharpLink remains committed to leveraging blockchain technologies to strengthen our treasury foundation and strategic growth trajectory. As adoption of decentralized infrastructure accelerates, the Company intends to regularly update its stockholders on its digital asset strategy and broader growth initiatives."