SharpLink Stock Surges 28% After Adding 7,689 ETH

SharpLink Gaming has made a significant strategic move by investing heavily in Ethereum (ETH), which has already had a notable impact on its stock performance. The company added 7,689 ETH to its reserves between June 28 and July 4, 2025, at an average rate of $2,501 per coin. This purchase increased its total Ethereum holdings to 205,634 ETH, triggering a sharp market reaction. SharpLink’s stock, listed as SBET on the NASDAQ, rose more than 28% in one day as investors responded positively to the company's shift toward Ethereum.

To support this expansion, SharpLink utilized its At-The-Market facility to raise fresh capital. During the same period, the company generated approximately $64 million in net proceeds by issuing just under 5.5 million shares. A significant portion—$37.2 million—was raised on July 3 alone. Although this amount had not yet been used for additional Ethereum purchases, the company intends to allocate most of it in the coming days.

SharpLink’s strategy goes beyond simply holding Ethereum. The company has directed all of its holdings toward yield-generating blockchain protocols through staking and restaking. Between late June and early July, the business received about 100 ETH as reward income. Since the start of its staking activities on June 2, total returns have reached 322 ETH. This move turns SharpLink’s ETH reserves into an income stream rather than an idle asset.

To provide clarity for shareholders, SharpLink has introduced a measure known as “ETH Concentration.” This figure reflects the amount of Ethereum held in relation to the company’s outstanding diluted shares. SharpLink’s ETH Concentration has climbed from 2.00 to 2.37 since mid-June—a 19% increase in just three weeks. This figure does not yet account for any ETH that could be acquired using the unspent $37.2 million raised on July 3, which may push the concentration even higher.

Joseph Lubin, SharpLink Chairman, emphasized the company's commitment to maximizing long-term value for shareholders and setting a new benchmark for responsible digital asset stewardship in today’s public markets. By continuously refining its treasury strategy and adopting innovative transparency metrics like ETH Concentration, SharpLink aims to lead the way in digital asset management.

Ethereum itself has seen a price uptick, crossing the $2,600 mark after gaining more than 3% within the last day. Analysts following its performance point to encouraging signs on technical charts. Rekt Capital noted that ETH has held above $2,500, forming a potential springboard for further gains. A pseudonymous analyst observed that ETH has finally broken above the EMA50 after nine weeks of rejection, marking a key shift in trend. Additionally, on-chain expert Ali Martinez reported that whales bought 200,000 ETH last weekend, signaling strong buying activity from investors.

While most current metrics point to short-term momentum, some analysts are already looking far ahead. A recent forecast suggests that Ethereum’s market value could reach as much as $85 trillion, reflecting growing belief in its long-term potential and expanding role in global finance. This optimistic outlook aligns with SharpLink’s strategic investment in Ethereum, positioning the company at the forefront of the digital asset revolution.