SharpLink ETH Holdings Hit $3.7B After ATM Buys & Staking
SharpLink ETH holdings rose to 837,230 ETH (about $3.7 B) after acquiring 56,533 and 39,008 ETH via its ATM facility, funded by ~$407.5 M in net proceeds. The company’s ETH concentration per 1,000 diluted shares jumped above 4.00, ranking it the second-largest corporate ETH holder behind BitMine Immersion. Staking rewards have added over 4,100 ETH since June, while a $1.5 B stock buyback plan and over $270 M in cash reserves support future Ethereum purchases. Traders can track SBET stock as a compliant proxy for ETH exposure. SharpLink ETH holdings indicate sustained institutional demand and may influence ETH market dynamics.
Bullish
SharpLink’s continued accumulation of ETH via its ATM facility and robust staking rewards reduces available supply while signaling strong institutional confidence. The significant net proceeds deployment, combined with a $1.5 B buyback plan and healthy cash reserves, underpins further ETH purchases. This sustained demand from a Nasdaq-listed firm, along with clear concentration metrics, typically exerts upward pressure on ETH prices in both the near and long term, supporting a bullish outlook.