SharpLink Announces Purchase of Up to $1 Billion in Ethereum with New Strategy

• SharpLink Wants to Buy $1 Billion in Ethereum
• Company adopts native corporate treasury in ETH
• Market reacts to institutional entry into Ethereum

American sports betting company SharpLink Gaming has filed a registration statement with the SEC to issue up to $1 billion in common stock. The move aims to fund the acquisition of Ethereum (ETH) as part of a new cryptocurrency treasury strategy officially announced in late May.

The decision positions SharpLink among the first publicly traded companies to adopt Ethereum as a strategic cash asset, in a move that echoes MicroStrategy’s policy with Bitcoin. The appointment of Ethereum co-founder Joseph Lubin as chairman of the company’s board reinforces the company’s new corporate direction.

According to the document filed on May 30, “we intend to use substantially all of the proceeds from this offering to acquire Ether, the native cryptocurrency of the Ethereum blockchain.” A smaller portion will be allocated to working capital, operations and marketing.

JUST IN: SharpLink Gaming to raise $1 billion to acquire Ethereum $ ETH . pic.twitter.com/atACJQhZm5

—Watcher.Guru (@WatcherGuru) May 30, 2025

News of the strategy shift on May 27 sent SharpLink shares soaring by more than 400% in a single trading session. Market enthusiasm was fueled by comparisons to Michael Saylor’s history of aggressive Bitcoin buying.

Despite the optimism, the document also warns of regulatory risks. The possible classification of ETH as a security and the rise of central bank digital currencies (CBDCs) were highlighted as potential threats to demand for assets like Ethereum.

SharpLink’s move comes amid a growing wave of institutional interest in Ethereum. REX Shares, for example, recently filed with the SEC to approve a new ETH ETF with staking yields, exploiting regulatory loopholes.

Analysts note that similar staking products involving ETH and even Solana could be greenlit in the coming weeks, cementing Ethereum as a solid alternative for corporate treasuries wanting exposure to the crypto sector.

At the time of publication, the price of Ether was quoted at $2.540,03, up 0,2% in the last 24 hours.