SharpLink Locks $400M, Eyes $3B ETH Treasury Milestone

Online performance marketing firm SharpLink is making a bold move to expand its Ethereum reserves. Recently, the firm announced a $400 million registered direct offering with five major institutional investors. The transaction aims to inject significant capital into the company’s balance sheet. It will also add to its already formidable arsenal of crypto assets.

The latest funding complements an unused $200 million at-the-market (ATM) facility and SharpLink’s existing stash of roughly 598,800 ETH. Based on current market prices, the company’s ETH holdings are on track to surpass $3 billion in value. This is a milestone that would position SharpLink among the largest corporate holders of ETH globally.

Ethereum’s Rising Activity Aligns with SharpLink’s Moves 

The strategic raise signals growing confidence from heavyweight investors in SharpLink’s long-term blockchain ambitions. While the firm has not disclosed specific allocation plans for the new funds, the combination of capital inflow and crypto reserves could give the company both liquidity and flexibility to seize opportunities in the evolving Web3 economy.

Commenting on the latest move, Joseph Chalom, Co-Chief Executive Officer of SharpLink, said:

“Raising nearly $900 million in capital over the past week underscores the market’s confidence in SharpLink’s ETH treasury strategy.”

According to Chalom, such rapid, large-scale commitments signal that investors are not just backing SharpLink, they are betting on Ethereum’s capacity to reshape digital finance.

Notably, the latest move reflects a broader trend of publicly traded companies diversifying into digital assets, following in the footsteps of early adopters who leveraged crypto holdings as both a hedge and a growth strategy. With Ethereum recently experiencing increased network activity, SharpLink’s timing could prove advantageous.

Institutional Interest in Altcoins Gains Momentum

Meanwhile, ETH recently surged past the $4,000 price mark for the first time since 2024. The spike in value signified strong investors’ confidence in the asset and also a significant reassurance for ETH bulls. At the time of writing, data from CoinGecko reveals that ETH was trading $4,269.62. The second-largest crypto represents a 1.8% increase over the last 24 hours and 18.0% over the past few days. It also revealed a 45.5% monthly gain. 

Besides ETH, some large companies are also turning to other altcoins for a crypto reserve. Recently, CEA Industries (BNC), a Nasdaq-listed firm formerly known as VAPE, acquired 200,000 Binance coin (BNB), worth $160 million. The latest purchase comes after 10X Capital, in partnership with YZi Labs, completed the inaugural BNB acquisition through a $500 million private placement. This reflects a shared vision for the token’s growth trajectory.

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