Sharplink overtakes Ethereum Foundation to become largest ETH holder
SharpLink Gaming has officially become the largest corporate holder of Ethereum, surpassing even the Ethereum Foundation.
On July 15, the company revealed it owns 280,706 ETH, valued at $867 million. The company’s impressive ETH holdings grew significantly between July 7 and July 13. During this period, SharpLink purchased 74,656 ETH for $213 million, with an average price of $2,852 per coin.
The firm also announced that 99.7% of its ETH holdings are staked, generating an additional 415 ETH since June 2. Since June 13, the company’s ETH concentration has increased by about 23%.
Joseph Lubin, Chairman of SharpLink, emphasized that these holdings represent the dawn of “collective capitalism,” where businesses build for the community, not just for profit. He stressed that Ethereum’s decentralized, permissionless nature is essential for fostering free markets.
He added:
Collective capitalism is built on the foundations of radically free markets only possible on a permissionless, uncensorable, rigorously decentralized Layer 1 blockchain.”
Following the news, the firm’s stock rose by 20% to $28, according to Google Finance data.
Ethereum treasury strategy gains traction
SharpLink’s announcement aligns with a broader trend of companies beginning to adopt the Ethereum Treasury Strategy.
Over the past 30 days, approximately 10 firms, including SharpLink, have purchased more than 550,000 ETH, totaling $1.65 billion in acquisitions.
Some of these entities were previously Bitcoin miners like Bitmine Immersion Technologies, which recently shifted its focus to the second-largest digital asset.
Kyle Reidhead, co-owner of Milk Road, predicted that this trend is expected to continue, with firms possibly purchasing up to $2 billion worth of ETH in the coming month and $3 billion the following month.
He also noted that the growth of stablecoins and favorable regulations could further fuel Ethereum’s demand.
He stated:
“In the last 30 days, these treasury companies have bought .5% of the entire ETH supply and moved it into Ethereum DeFi smart contracts (via staking or lending). Remember, unlike the ETFs, these companies don’t sell. They only buy (at least for now). This is going to create a supply shock for ETH over the coming months, there’s really no way around it.”
As of press time, about 1,520,715 ETH (worth over $4.5 billion) is locked in various Ethereum reserves belonging to 52 companies. Strategic ETH Reserve data shows that these holdings amount to 1.31% of the digital asset’s total supply.
The post Sharplink overtakes Ethereum Foundation to become largest ETH holder appeared first on CryptoSlate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ADA price jumps as Cardano founder Charles Hoskinson responds to scam allegations

Livret A Hits 1.7 % : What's Behind The Government's Move

Mark Zuckerberg, Meta executives settle $8B privacy lawsuit in Delaware court
Share link:In this post: Meta and executives, including Mark Zuckerberg and Sheryl Sandberg, have reached a settlement in an $8 billion shareholder lawsuit. The Cambridge Analytica lawsuit alleged board members intentionally violated a 2012 FTC consent order, resulting in billions in losses and a $5.1M FTC fine. Terms of the settlement were not disclosed, and the deal avoids a trial where Zuckerberg was set to testify.
GameSquare Aims to Become Top ETH Holder with $70M Raise
GameSquare raises $70M in public offering to grow its ETH holdings and target top spot among publicly listed Ethereum holders.Why GameSquare Is Betting Big on ETHEthereum Strategy Tied to Gaming and Media Vision

Trending news
MoreCrypto prices
More








