SharpLink Gaming Purchase $463M in Ether, Becomes Largest Listed ETH Holder

SharpLink Gaming has announced a strategic acquisition of $463 million in Ethereum at an average price per ETH of $2,626 to boost its strategic treasury.

Notably, this purchase positions SharpLink as the largest publicly-traded holder of ETH globally, and the second-largest overall, surpassed only by the Ethereum Foundation.

SharpLink Gaming Boost ETH Holdings

Building upon the initial PIPE transaction from May 26, 2025, the company further disclosed that it had raised an additional $79 million in gross proceeds through its at-the-market (“ATM”) facility.

The firm allocated a substantial portion of these ATM proceeds to increase the company’s ETH holdings, contributing to the total acquisition. These collective purchases have impressively grown ETH per share by 11.8% since June 2, 2025.

This strategic maneuver establishes SharpLink as one of the pioneering Nasdaq-listed entities to develop a treasury strategy primarily centered on ETH, which will now serve as SharpLink’s primary treasury reserve asset.

As of June 13, 2025, over 95% of SharpLink’s ETH holdings have been strategically deployed in staking and liquid staking solutions. This deployment actively contributes to the security of the Ethereum network while simultaneously generating native yield, demonstrating a proactive and forward-thinking approach to asset management.

Joseph Lubin, Chairman of SharpLink Gaming, Co-Founder of Ethereum, and Founder and CEO of Consensys, commented on the acquisition, stating:

“SharpLink’s bold ETH strategy represents a pivotal milestone and innovative approach to the institutional adoption of Ethereum. It comes at a unique time, when the United States Congress is moving towards passing significant legislation on stablecoin and digital asset market structure.”

Moreover, he added, “Allocating significant capital to ETH and deploying it in network activities such as staking, SharpLink is both contributing to Ethereum’s long-term security and trust properties while earning additional ETH for that work.”

Previous Acquisitions

Earlier this month, CoinTab reported that SharpLink will offer up to $1 billion in stock to purchase more Ethereum and establish a substantial Ether reserve.

The firm noted it plans to release up to 72.05 million shares of stock, under the symbol “SBET.” Approximately 12.6 million of these shares will cost $79.21 each, based on the Nasdaq price as of May 29. According to the SEC document, the firm will use all the money from the stock sale to buy Ethereum.

Notably, SharpLink’s decision to utilize ETH as a primary component of its financial management is a significant departure from the standard approach companies take to managing their funds. With this plan, SharpLink aims to provide its investors with a genuine opportunity to capitalize on ETH’s potential.

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