Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
SharpLink moves $295M into Ethereum, closing in on 500,000 ETH milestone

SharpLink moves $295M into Ethereum, closing in on 500,000 ETH milestone

CryptoSlateCryptoSlate2025/07/28 03:15
By:Oluwapelumi Adejumo

SharpLink Gaming is accelerating its Ethereum strategy with a major purchase that brings its total holdings closer to a key milestone of 500,000 ETH.

On July 28, blockchain analysis platform Lookonchain revealed that the firm acquired 77,210 ETH, worth approximately $295 million. This move brings SharpLink’s total Ethereum reserves to 438,017 ETH, valued at around $1.69 billion.

While the company has not formally confirmed the latest buy, the transaction suggests SharpLink is pushing toward a 500,000 ETH target.

Reaching that threshold would cement its position as the second-largest known corporate holder of Ethereum, behind only BitMine Immersion, which holds about 566,800 ETH valued at $2.21 billion.

Meanwhile, data from Arkham Intelligence shows the newly acquired ETH was staked in 3,200 ETH batches using Figment. The firm is a leading provider of institutional staking infrastructure, offering services to over 500 institutional clients, including asset managers, exchanges, and large token holders.

Early market indications show that SharpLink’s Ethereum-focused strategy appears to be resonating with investors.

According to Google Finance data, the company’s stock (SBET) has surged over 120% in the past month. As of pre-market trading, the stock is priced at $23.61, up 7.37% on the day

Leadership changes

This Ethereum acquisition is the first major move since SharpLink named Joseph Chalom as Co-CEO on July 25.

Chalom previously led digital asset strategy at BlackRock and played a key role in launching the BUIDL fund, as well as Bitcoin and Ethereum ETFs.

SharpLink’s chairman, Joseph Lubin, said Chalom’s appointment signals the firm’s deeper focus on institutional-grade crypto exposure. He furthered that Ethereum is entering a new phase, one that requires large capital, capable leadership, and long-term alignment.

Lubin added:

“Joseph brings all three. His decision to join Sharplink is a massive vote of confidence for Ethereum and for the role ETH will play in the future of capital markets. With stablecoins, ETH Treasury companies and top tier talent TradFi is onboarding to DeFI.”

Chalom echoed this vision, saying:

“Our goal [at SharpLink] is not just to hold ETH, but to activate it, using native staking, restaking, and Ethereum-based yield strategies. All to increase the value of our treasury and create long-term shareholder value.”

The post SharpLink moves $295M into Ethereum, closing in on 500,000 ETH milestone appeared first on CryptoSlate.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!