SharpLink & BitMine Boost Ethereum Reserves, NYSE Options
Nasdaq-listed SharpLink Gaming has increased its Ethereum treasury to 360,807 ETH by purchasing 79,949 ETH at an average price of $3,238 between July 14–20, funded by a $96.6M at-the-market share issuance. Since June 2, the firm has generated 567 ETH in staking rewards, raising its ETH per-share metric to 3.06. Backed by Ethereum co-founder Joseph Lubin, SharpLink praised the GENIUS Act for regulatory clarity and retains unused capital for further ETH buys. Crypto miner BitMine (NYSE: BMNR) also launched ETH options trading on NYSE to boost liquidity and support its goal of holding 5% of global ETH supply. Traders should watch evolving Ethereum treasury strategies, as staking yields underpin institutional demand, but price volatility and future ATM issuances pose dilution risks.
Bullish
The news of SharpLink’s large ETH purchases, sustained staking rewards and BitMine’s ETH options launch points to growing institutional demand for Ethereum. Regulatory clarity under the GENIUS Act and unused ATM capital signal continued accumulation, supporting bullish sentiment. In the short term, increased demand and new trading instruments could lift ETH prices, while long-term staking yields and clearer rules may underpin sustained growth. Dilution risk from further ATM issuances poses a caveat but is outweighed by institutional buying pressure.