The corporate race to dominate Ethereum treasuries just escalated.
Sharplink, a publicly listed digital infrastructure company, responded to BitMine Immersion Technologies’ $2 billion ETH purchase by hiring Joseph Chalom, a 20-year BlackRock veteran, as co-CEO. The move signals Sharplink’s deepening commitment to Ethereum and comes amid growing institutional interest in crypto.
Joseph Chalom Joins Sharplink as Co-CEO
Chalom, who previously served as Managing Director of Strategic Ecosystem Partnerships at BlackRock, officially started his role on July 24. At BlackRock, he was instrumental in developing digital asset strategies, managing index and data relationships, and working closely on ETF products, including the iShares Ethereum Trust (ETHA).
ETHA, launched by BlackRock in July 2024, recently crossed the $10 billion AUM mark, making it the third-fastest ETF to reach that milestone in history.
“SharpLink’s vision for Ethereum aligns with my passion for scaling digital finance,” Chalom said in the announcement, highlighting his belief in Ethereum’s long-term value.
BitMine Overtakes Sharplink in ETH Holdings
Sharplink’s high-profile hire comes just 24 hours after BitMine Immersion Technologies revealed a massive 566,776 ETH purchase worth over $2 billion. The move pushed BitMine’s Ether treasury past Sharplink’s holdings of 360,807 ETH, which had only recently been disclosed.
BitMine, originally a Bitcoin mining firm, had just announced its Ethereum treasury initiative on June 30 — meaning the $2B ETH acquisition happened in under a month. The rapid accumulation shows how aggressively corporate players are moving to gain leverage in Ethereum’s next phase.
Ethereum’s Role in Corporate Strategy
Both Sharplink and BitMine see Ethereum not just as a store of value but as the foundation for future digital infrastructure.
Sharplink had previously named Ethereum co-founder Joseph Lubin as its board chairman, signaling long-term alignment with Ethereum’s ecosystem. Now, the hiring of Chalom — who helped BlackRock become the world’s largest crypto ETF issuer with $95.7B in assets — sends a clear message: Sharplink intends to compete at the highest level.
Conclusion
With institutional Ethereum plays accelerating and strategic hires like Chalom entering the space, it’s becoming clear: Ethereum is no longer just a crypto asset — it’s a corporate arms race. And Sharplink isn’t backing down.
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.