SharpLink Gaming’s $400M Deal Boosts ETH Treasury
SharpLink Gaming has agreed a $400 million share issuance with five institutional investors to fund further Ethereum acquisitions. The company will issue shares at $21.76 each. The deal, expected to close this Tuesday, will lift SharpLink Gaming’s ETH holdings above $3 billion. Last week, the firm raised nearly $900 million, including $264.5 million via an at-the-market offering, and retains $200 million capacity for future purchases. On the announcement day, SharpLink Gaming’s stock (SBET) dipped 6.6% to $22.34, then recovered to $23.10 in after-hours trading. Since May, the share price has climbed 189% year-to-date despite a 73% intraday drop in mid-June over a resale filing misunderstanding. As of Sunday, SharpLink Gaming holds 598,800 ETH worth around $2.57 billion, ranking second among public holders behind BitMine Immersion. Meanwhile, Ethereum trades near $4,300, up 44.5% over the past month. The ongoing capital raises underscore market confidence in SharpLink Gaming’s Ethereum treasury strategy.
Bullish
The $400 million share issuance by SharpLink Gaming to fund additional Ethereum purchases signals strong institutional demand. In the short term, the deal is likely to support ETH price momentum as the company’s treasury strategy drives buy-side pressure. Over the long term, successive capital raises and a growing ETH reserve reflect sustained market confidence and could underpin further price gains. Though stock volatility may reflect dilution concerns, the net effect on Ethereum is bullish given the scale of accumulation and positive investor sentiment.