SharpLink Acquires $25.7M Worth of ETH as Treasury Reserve Asset
In a groundbreaking move for the Ethereum ecosystem, the Ethereum Foundation has sold 10,000 ETH in an over-the-counter (OTC) transaction to SharpLink Gaming, a publicly traded company listed on Nasdaq under the ticker SBET. The deal, valued at $25.7 million, marks the first direct acquisition of ETH from the Foundation by a listed corporation.
Deal Finalized at $2,572.37 per ETH
The transaction was finalized at an average price of $2,572.37 per ETH and was settled on-chain on July 10 through the Foundation’s multi-signature wallet. The proceeds from the sale are expected to fund the Foundation’s ongoing research, development, and ecosystem support initiatives.
This is not a simple trade — it’s a long-term commitment to Ethereum’s mission.
SharpLink Adopts ETH as Its Primary Treasury Reserve
SharpLink stated it is adopting Ethereum (ETH) as its primary treasury reserve asset, a move that aligns the company’s financial strategy with its long-term belief in Ethereum’s role in decentralized infrastructure. The firm announced plans to stake and restake the ETH, effectively removing it from circulation, and reinforcing Ethereum’s supply scarcity and network security.
This approach supports the broader trend of protocol-native finance, where entities directly engage with the protocol instead of relying on traditional financial intermediaries.
A Strategic Shift in Crypto Treasury Management
The decision by SharpLink signals a paradigm shift in corporate treasury management, moving beyond Bitcoin to adopt Ethereum for long-term value storage. The staking strategy allows the company to earn yield while actively participating in the Ethereum network’s security and consensus process.
Such a move reflects increasing institutional interest in Ethereum staking, especially as ETH ETF inflows gain momentum and large players seek yield-bearing, decentralized alternatives to traditional assets.
Reinforcing Ethereum’s Decentralized Mission
SharpLink emphasized that this acquisition is more than financial. It’s a statement of belief in Ethereum’s decentralized future, its community values, and its economic vision. By removing ETH from active circulation through staking and restaking, the company is contributing to long-term price support and network decentralization.
“We see this as a model for how mission-driven organizations can advance shared goals of decentralization and economic empowerment,” the company noted in its statement.
ETH Price Holds Above $3,000 Post-Transaction
As of the latest data, Ethereum is trading above $3,000, showing strength despite large-scale transfers. This resilience reflects renewed investor confidence in the asset, especially with institutional backing continuing to grow.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.