SharpLink Amasses $1.9B ETH Treasury via Equity Financing
Nasdaq‐listed SharpLink has converted equity capital into a $1.9 billion Ethereum treasury, adding 83,562 ETH worth $264.5 million between July 28 and August 3 via an at-the-market equity program. The firm now holds 521,939 ETH, all of which are staked to earn passive yield through Ethereum’s proof-of-stake model. To date, SharpLink has collected 929 ETH in staking rewards, boosting its digital reserves by over $3.3 million. The company tracks performance with an ETH-per-share metric, which has risen 83% since June, reflecting growing shareholder value tied to Ethereum’s price. Initially the largest public Ethereum holder after a $463 million purchase in June, SharpLink has been overtaken by Bitmine but continues to reinforce its ETH treasury strategy. Co-CEO Joseph Chalom emphasized the firm’s commitment to aligning Ethereum accumulation and staking rewards with long-term shareholder returns. This move underscores strong institutional demand for Ethereum and highlights the role of equity financing in corporate crypto strategy.
Bullish
SharpLink’s large equity-funded Ethereum accumulation signals strong institutional demand for ETH and reduces available market supply, creating upward price pressure. Staking all 521,939 ETH for passive yield and reinvesting 929 ETH in staking rewards further demonstrates confidence in Ethereum’s network fundamentals. Similar to Tesla’s Bitcoin treasury moves, corporate on-chain asset builds tend to boost market sentiment and attract retail and institutional follow-on buying. In the short term, the announcement may trigger a positive price spike as traders anticipate increased demand. Over the long term, sustained equity financing for ETH purchases and staking rewards reinvestment could underpin a bullish market structure by continuously supporting price floors and highlighting Ethereum’s utility as a treasury asset.