SharpLink Gaming Tops Corporate ETH Reserves With 198300 ETH
SharpLink Gaming has accelerated its Ethereum treasury, acquiring 60,582 ETH (approx $180 M) since late June with key purchases including 7,689 ETH in late June, 10,000 ETH from the Ethereum Foundation, and 16,374 ETH on July 14 from a ConsenSys-controlled wallet. With total holdings of 198,300 ETH (valued at $608 M), including 181,860 liquid staked ETH (LSETH), the gaming firm becomes the largest corporate ETH holder. All assets are deployed in staking and restaking protocols, generating over 320 ETH in rewards since June.
Under chairman Joseph Lubin, SharpLink’s ETH reserve strategy aligns with a broader industry trend as public companies build on-chain treasuries for yield and diversification. The firm’s stock has jumped amid the ETH price rebound above $3,000, potentially tightening supply and supporting a bullish market outlook for ETH.
Bullish
SharpLink Gaming’s aggressive ETH accumulation reduces available supply and signals institutional confidence, which can drive short-term price support as markets digest decreased sell pressure. Deploying assets into staking and restaking protocols further locks up ETH, reinforcing supply constraints. In the long term, the trend of corporate treasuries increasing ETH holdings may attract additional institutional investors, underpinning sustained demand. Historical patterns show that significant corporate buys often precede price rallies, suggesting a bullish outlook for ETH.