SharpLink Grows ETH Treasury Past 32K After Second $44M Purchase

SharpLink Gaming has doubled down on Ethereum, buying 14,682 ETH worth $43.78 million just days after acquiring 10,000 ETH from the Ethereum Foundation. The latest buy brings SharpLink’s total ETH accumulation in July to more than 32,000 coins. These two purchases alone are valued at over $88 million. The Ethereum Foundation confirmed the earlier sale via an over-the-counter (OTC) deal. It sold 10,000 ETH at an average price of $2,572.37. SharpLink acted as the counterparty.

Ethereum Foundation Confirms OTC Deal

The Foundation disclosed the sale in a post on X. It stated the proceeds would fund protocol development, community grants, and ecosystem growth. The transaction came from its official multisig wallet. “This transaction is part of ongoing treasury management,” the Ethereum Foundation wrote. It referenced a June 4 blog outlining its ETH reserve strategy.

That strategy allows the Foundation to sell ETH as needed for operational stability. SharpLink’s involvement shows that institutional buyers are increasingly stepping into OTC deals to acquire large ETH volumes without moving the open market.

SharpLink Now Holds Over 215K ETH

With its treasury strategy now in full swing, SharpLink holds over 215,000 ETH, one of the largest known corporate Ethereum positions globally. Market watchers have drawn comparisons between SharpLink and MicroStrategy, the firm famous for amassing over 200,000 Bitcoin since 2020. 

While MicroStrategy focused exclusively on Bitcoin, SharpLink is emerging as Ethereum’s biggest corporate bull. Crypto influencer Crypto Patel asked on X, “Is SharpLink the MicroStrategy of Ethereum?” The post has already triggered speculation around SharpLink’s long-term treasury ambitions.

Market Impact and Ethereum Sentiment

Ethereum has traded steadily above $2,600 this week. Volume and sentiment remain strong despite recent volatility in the broader market. SharpLink’s move adds bullish momentum. It signals growing institutional confidence in Ethereum, especially following its Dencun upgrade and broader push into rollups and scalability. Institutional demand for ETH has risen in 2025. The approval of spot Ethereum ETFs in the U.S. earlier this year opened the door for more treasuries to allocate.

A Strategic Treasury Model

SharpLink hasn’t released a public statement about its long-term ETH strategy. But its investor site now highlights its Ethereum holdings and mentions further acquisitions. If the company continues at this pace, it could surpass 50,000 ETH by August. Its strategy appears to follow a long-term conviction model rather than short-term trading.

As one of the most active buyers of ETH this month, SharpLink’s treasury positioning could influence other tech firms exploring crypto diversification. For now, SharpLink seems set on building the Ethereum equivalent of a Bitcoin-style treasury, only this time, with smart contracts and staking. Whether this marks the start of a broader corporate ETH wave remains to be seen. But the signal is loud: big players are now betting big on Ethereum.

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