Lubin Backs ETH Treasuries to Boost Ecosystem Use

Jubin believes ETH treasuries will help attract more institutional interest. Through SharpLink Gaming, which he chairs, Lubin is spearheading efforts to accumulate large amounts of ETH. He describes these treasuries as essential for creating scarcity and driving long-term value. SharpLink recently boosted its ETH holdings to over 205,000 tokens worth $533 million, which resulted in a 28% surge in its stock price. Meanwhile, ReserveOne is set to go public through a $1 billion SPAC merger to help expand its own crypto reserve strategy.

Joseph Lubin Pushes Ethereum Treasuries

Ethereum (ETH) co-founder Joseph Lubin recently talked about the importance of ETH treasuries when it comes to driving the growth and sustainability of the Ethereum ecosystem. In a recent interview with CNBC, Lubin explained that while a big amount of ETH is in circulation, there is not enough usage to support healthy supply-demand dynamics. 

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To address this imbalance, he is spearheading efforts at SharpLink Gaming, a company he chairs that aims to build Ethereum-based treasuries. Lubin described Ether treasuries as a “great business to run” and essential to making the Ethereum economy function more efficiently.

SharpLink’s mission, according to Lubin, is to help communicate the Ethereum narrative in a way that resonates with traditional finance, particularly Wall Street investors who are increasingly seeking profitable opportunities in digital assets. He argued that ETH treasuries can play a pivotal role in generating both interest and scarcity around Ethereum by acquiring and holding large amounts. “We’re able to acquire tens of millions of dollars in Ether a day,” Lubin pointed out, suggesting that this accumulation will drive long-term value.

Lubin is very confident in the future of both Bitcoin and Ethereum, and stated that he expects both assets to appreciate over the coming years and decades as global systems gradually decentralize. He also believes that the Ethereum network is now equipped to support Web3 development at scale, and called it “scalable enough, affordable enough, legal enough in the United States.” This is a shift from earlier challenges the network faced, including regulatory uncertainties.

On the regulatory front, Lubin criticized the former SEC Chair Gary Gensler for hindering the Ethereum ecosystem’s development by creating a climate that discouraged token issuance and application building. He believes those constraints are now lifted, thanks to Gensler’s recent departure and the appointment of Paul Atkins. 

Paul Atkins

Atkins became the 34th chair of the SEC in April, and signaled a much more favorable stance toward blockchain innovation. Overall, Lubin’s comments suggest that this regulatory thaw could be the start of a new wave of growth for Ethereum and the Web3 space.

SharpLink Stock Soars on ETH Buys

Shareholders of the Lubin-chaired SharpLink also seem to agree that an Ethereum treasury is the way to go. Shares in SharpLink Gaming surged by over 28% on Tuesday after the company revealed that it increased its Ethereum holdings to 205,634 ETH, valued at more than $533 million. 

The announcement revealed a buying spree between June 28 and July 4, during which SharpLink acquired 7,689 ETH for over $19 million at an average price of $2,501. The stock closed at $16.29 and rose even more during after-hours to $17.

Sharplink Gaming share price over the past 24 hours (Source: Google Finance)

This recent purchase took place after a similar move on June 25, when SharpLink’s shares climbed 7% to $9.66 after it announced a $30 million Ether acquisition that boosted its holdings to 188,000 ETH. SharpLink has made it very clear that its treasury strategy is focused squarely on Ethereum. During the latest accumulation period, the company raised $64 million in net proceeds by selling more than 5.4 million shares, with a large portion of the capital earmarked for further Ether purchases.

On May 30, SharpLink disclosed plans to sell up to $1 billion in common shares, primarily to fund future Ethereum buys. This came just days after a formal announcement on May 27 that the firm was shifting toward an Ethereum-focused treasury strategy. Despite a sharp 73% drop in after-hours trading on June 12, it seems like the company was able to regain investor confidence with its consistent ETH accumulation.

SharpLink also staked all of its Ether holdings, earning 322 ETH in rewards since June 2, which is currently worth approximately $848,750. Additionally, the company introduced a new metric, ETH Concentration, to highlight its Ether exposure in relation to its equity structure. Joseph Lubin stated that the company continues to refine its treasury strategy and attributes its success to a disciplined ETH-centric approach and a strong commitment to transparency.

SharpLink’s bold move is part of the  growing trend among companies allocating corporate treasuries into crypto assets. While Bitcoin is still a popular choice, some firms are opting for altcoins. Bit Digital, for instance, announced on Monday that it  sold 280 Bitcoin to pivot its treasury toward Ethereum.

Merger Fuels ReserveOne Crypto Strategy

ReserveOne, a digital asset management company, is set to go public through a merger with M3-Brigade Acquisition V Corp.. This is according to an announcement made on Tuesday. The deal is projected to bring in more than $1 billion in gross proceeds, which will be used to boost ReserveOne’s crypto reserve strategy. This strategy focuses on accumulating a range of digital assets, including Bitcoin, Ethereum, and Solana, as part of its long-term investment thesis.

Jaime Leverton, CEO of ReserveOne, described the move as a step toward reinforcing the company’s dedication to responsible innovation, financial inclusion, and the advancement of a more transparent and resilient digital asset market. Leverton is widely recognized in the cryptocurrency industry for her leadership roles at Bitcoin mining firms Hut 8 and Riot Platforms. She served as CEO of Hut 8 for three years and currently sits on the board of directors at Riot Platforms.

Jaime Leverton

M3-Brigade Acquisition V Corp. is part of a joint venture between M3 Partners and Brigade Capital Management. The firm specializes in Special Purpose Acquisition Companies (SPACs), a model that allows companies to go public through private mergers. M3-Brigade previously brought Greenfire Resources and Infrastructure and Energy Alternatives to public markets using this strategy.

Once the merger is finalized, ReserveOne will be listed on Nasdaq and trade under the tickers RONE and RONEW. The deal is expected to close in the fourth quarter of 2025.

Crypto reserve companies like ReserveOne have become increasingly popular since 2024, by offering investors a way to gain exposure to digital assets without directly holding tokens. Other companies following similar strategies include Michael Saylor’s Strategy, Metaplanet, Semler Scientific, SOL Strategies, and DeFi Development Corp.