SharpLink Gaming Raises ETH Holdings to $1.91B

SharpLink Gaming has boosted its ETH holdings to 521,939 tokens, valued at $1.91 billion. Between July 28 and August 3, SharpLink Gaming acquired 83,561 ETH for $303.7 million at an average price of $3,634. The Nasdaq-listed crypto treasury firm stakes all its ether, earning 929 ETH in staking rewards since its May strategy pivot. This makes it the second-largest public holder of ETH, following BitMine Immersion Technologies. The aggressive ETH accumulation by SharpLink Gaming underscores a broader trend in crypto treasury management. Ethereum trades near $3,569, down 2.3% in 24 hours and 27% below its all-time high.
Bullish
SharpLink Gaming’s large-scale ETH accumulation and staking strategy signals strong institutional confidence. Similar to MicroStrategy’s Bitcoin buy-ins, this move reduces sell pressure and adds a supportive bid under ETH. The firm’s pivot to staking also generates yield, further aligning long-term holding incentives. In the short term, heavy buying may stabilize prices around current levels. Over the long run, continued treasury deployments by public companies could spur broader institutional adoption and strengthen the market’s bullish outlook.