SharpLink Gaming Becomes Largest Corporate Ethereum Holder With 280,706 ETH

SharpLink Gaming has made a significant move in the cryptocurrency market by becoming the largest corporate holder of Ethereum. The company has staked over 280,000 ETH, demonstrating a strong institutional commitment to the crypto asset. This strategic acquisition was funded through a $413 million ATM share sale, which has driven a 23% increase in its ETH concentration metric within just one month.

Between July 7 and July 13, SharpLink Gaming acquired approximately 74,656 ETH at an average price of $2,852, totaling around $213 million. This aggressive accumulation raised its total Ethereum holdings to 280,706 ETH, now valued near $858 million based on current market prices. This milestone surpasses the Ethereum Foundation’s treasury, which holds roughly 196,354 ETH valued at $591 million. Notably, SharpLink also purchased 10,000 ETH directly from the Ethereum Foundation, signaling a close relationship and confidence in Ethereum’s ecosystem.

SharpLink financed these acquisitions through an at-the-market (ATM) share offering, raising approximately $413 million between July 7 and July 11. With $257 million still available from this offering, the company is positioned to continue expanding its Ethereum holdings. The market responded positively, reflecting investor confidence in SharpLink’s ETH-focused treasury strategy.

Nearly 99.7% of SharpLink’s Ethereum holdings are actively staked, generating approximately 415 ETH in rewards since June 2, including 94 ETH earned in the past week alone. This highlights the company’s commitment to maximizing yield while maintaining significant exposure to Ethereum. SharpLink introduced an “ETH concentration” metric to quantify ETH exposure per 1,000 diluted shares, which increased from 2.00 in mid-June to 2.46 by July 13—a 23% rise in just one month.

SharpLink’s Ethereum treasury strategy, launched in May with a $425 million private placement led by Consensys, benefits from the leadership of Ethereum co-founder and Consensys CEO Joseph Lubin, who now chairs SharpLink’s board. This alignment underscores the company’s ETH-first approach and may encourage other institutional investors to consider Ethereum as a core treasury asset.

SharpLink’s move follows similar institutional interest from firms, which have increased their Ethereum allocations. This trend reflects growing confidence in Ethereum’s network fundamentals and staking rewards as attractive treasury management tools. The broader momentum in ETH/BTC price action, combined with strategic corporate acquisitions, suggests a maturing market where Ethereum is increasingly viewed as a valuable digital asset for long-term institutional portfolios.

SharpLink Gaming’s rise as the largest corporate ETH holder, combined with its robust staking strategy and substantial capital raise, marks a pivotal development in institutional cryptocurrency adoption. The company’s strategic accumulation and active treasury management demonstrate a strong conviction in Ethereum’s future potential. As more firms follow suit, Ethereum’s role as a key institutional asset is likely to solidify, driving further market maturation and innovation within the crypto ecosystem.