SharpLink Gaming, a NASDAQ-listed sportsbook marketing company, has made a significant move in the crypto market, purchasing 16,370 ETH worth approximately $49 million. This acquisition comes as Ethereum’s price rebounds above the $3,000 mark, marking a critical point for corporate blockchain investments.
SharpLink Now Holds the Largest Corporate Ether Treasury
With this latest purchase, SharpLink Gaming’s total Ether holdings have reached 198,300 ETH, valued at roughly $608 million at current market prices. This vaults the company ahead of even the Ethereum Foundation, which holds an estimated 197,400 ETH.
Of the total, 181,860 ETH is held in liquid staked ETH (LSETH), while 16,419 ETH is maintained as direct holdings. This development makes SharpLink the largest known corporate Ether treasury, highlighting a strategic shift among traditional firms toward Ethereum as a reserve asset.
Acquisition Backed by Ethereum Development Leaders
The recent transfer of 16,370 ETH was traced to a wallet believed to be controlled by Consensys, a prominent Ethereum development company. Just days earlier, SharpLink also acquired 10,000 ETH from the Ethereum Foundation, further consolidating its crypto position.
SharpLink’s ETH accumulation is backed by the company’s partnership with Ethereum co-founder Joseph Lubin, who now chairs its board of directors. Lubin has emphasized the importance of corporate ETH reserves, noting that capturing ETH in corporate treasuries helps stabilize supply-demand dynamics as decentralized applications grow.
Corporate ETH Reserves Reach $4.1 Billion
According to on-chain analytics, corporate Ethereum holdings have now exceeded 1.34 million ETH, with a combined value of over $4.1 billion. The increase reflects a growing trend of Ethereum adoption among institutional players, especially those aligned with the network’s long-term development.
SharpLink Gaming’s recent moves signal a deeper institutional embrace of ETH, not only as a speculative asset but as a strategic reserve integral to future blockchain-based ecosystems.
ETH Price Momentum Regains Strength
At the time of writing, ETH is trading at $3,050, representing a 3.5% gain in the last 24 hours, according to blockchain data firm Nansen. The price recovery is being supported by rising corporate demand, increased staking activity, and broader crypto market strength.
Conclusion
The aggressive ETH acquisition by SharpLink Gaming reflects a powerful shift in how corporations are positioning Ethereum as a core financial asset. With rising ETH prices and institutional involvement, the stage is being set for further market growth and ecosystem development.
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.