SharpLink Gaming’s $68M ETH Purchase Makes It Top Corporate Holder

Between July 7 and July 13, 2025, SharpLink Gaming acquired 74,656 ETH via its at-the-market facility, and on July 15 it added another 23,841 ETH for approximately $68 million, raising its balance to 280,706 ETH.

SharpLink Gaming, a Nasdaq-listed sports-betting affiliate marketing firm (NASDAQ: SBET), now holds 280,706 ETH, surpassing the previous corporate leader, the Ethereum Foundation. The latest purchase was executed through Coinbase Prime.

SharpLink raised $413 million via stock sales from July 7–11 under its at-the-market program to fund its Ethereum treasury strategy, aiming to leverage Ether’s recent rally and staking yields as a primary treasury reserve asset.

SharpLink’s acquisition averaged $2,852 per ETH during the July 7–13 window, and the subsequent $68 million buy reflected Ether trading near $2,850 on July 15. The company has staked 99.7% of its ETH holdings, accruing 415 ETH in rewards since June 2, 2025.

SharpLink launched its Ethereum treasury strategy in June 2025, converting its initial crypto reserves into ETH and employing an at-the-market equity facility to fund purchases. Its “ETH Concentration” metric, tracking ETH per 1,000 diluted shares, climbed 23% to 2.46.

By comparison, the Ethereum Foundation held roughly 247,000 ETH before SharpLink’s recent buys. The company’s holdings now exceed those of the organization that originally developed Ethereum.

Corporate accumulation of crypto assets has accelerated in 2025, with firms like Bit Digital and other public companies expanding their Ether treasuries amid regulatory clarity and institutional demand. SharpLink’s rapid accumulation demonstrates the growing trend of public companies adopting digital assets as treasury reserves.