SharpLink Gaming Boosts Ethereum Treasury by 19,271 ETH to $3.5B
Minneapolis-based SharpLink Gaming has resumed its Ethereum treasury accumulation by purchasing 19,271 ETH at an average price of $3,892 per ETH. This addition to its Ethereum treasury, funded by a $76.5 million stock capital raise executed at a 12% premium to NAV, brings ETH holdings to 859,853 tokens, valued at over $3.5 billion. Since launching its corporate crypto strategy in June 2025, SharpLink’s ETH concentration per 1,000 diluted shares has doubled to 4.0, with staking rewards totaling 5,671 ETH. Following the announcement, its stock (SBET) dipped 2.6% to $14.40 but remains up over 440% year-to-date. ETH prices rebounded 4% post-purchase to $4,098 and trade around $3,988, up 0.8% in the past 24 hours. This move underscores growing institutional adoption of Ethereum and highlights a bullish corporate crypto strategy that may support ongoing ETH demand.
Bullish
SharpLink Gaming’s significant ETH purchase demonstrates strong institutional confidence in Ethereum and reduces available circulating supply, providing immediate price support. The 4% post-purchase rebound and sustained stock performance underline market optimism. In the short term, the acquisition can bolster trader sentiment and stabilize prices. Over the long term, SharpLink’s disciplined corporate treasury approach, growing ETH concentration per share, and ongoing staking rewards suggest a steady demand curve. Historical patterns show that corporate accumulation often correlates with upward price momentum, reinforcing a bullish outlook for Ethereum.