SharpLink Gaming’s ETH holdings skyrocket to $1.2b amid aggressive accumulation strategy

SharpLink Gaming’s ETH holdings have officially crossed a jaw-dropping $1.2 billion, cementing the Minneapolis-based firm as the largest corporate holder of Ethereum globally.

In just the past few hours, the company added another $115 million in ETH, acquiring 32,892 tokens amid Ethereum’s sharp climb to six-month highs above $3,400.

This surge in SharpLink Gaming’s ETH holdings shows a bold shift in corporate treasury strategy, echoing the playbook of Bitcoin-maximalist firm MicroStrategy—but with Ethereum as the centerpiece.

SharpLink Gaming’s ETH holdings have skyrocketed in just nine days, with the company acquiring 144,501 ETH worth $515 million.

This strategic ramp-up follows a $425 million private placement led by Ethereum software giant Consensys, a major backer of Ethereum’s ecosystem.

According to Joseph Lubin, Ethereum co-founder and Consensys CEO who now chairs SharpLink’s board, the firm is “becoming the public market’s proxy for Ethereum exposure,” much like MicroStrategy’s approach with Bitcoin.

Speaking to CNBC, Lubin emphasized the “generational opportunity of programmable money and decentralized finance.”

SBET surges alongside SharpLink’s ETH treasury strategy

Following its ETH pivot, SharpLink’s stock (SBET) has soared by 29%, now trading at $36.40, with its value multiplying sixfold in a matter of weeks.

Investors are clearly reacting to SharpLink Gaming’s ETH holdings, which now outsize those of the Ethereum Foundation itself—a symbolic changing of the guard.

SharpLink’s unique approach combines long-term holding with staking mechanisms, allowing it to generate yield while participating in Ethereum’s proof-of-stake consensus.

“Ethereum is the base layer of the future global economy,” the company stated in a recent release, pledging to remain a long-term ETH holder regardless of short-term volatility.

SharpLink Gaming’s ETH holdings are not only the largest but also the most aggressively accumulated. In just 11 days, the company purchased 134,204 ETH at an average price of $2,970, spending nearly $399 million.

This includes a direct acquisition of 10,000 ETH from the Ethereum Foundation’s multisig wallet—a rare move that bypassed exchanges and OTC desks entirely.

“The fact that SharpLink is directly purchasing from the Foundation shows deep strategic intent. They’re not playing games,” noted Ryan Watkins, co-founder of Messari.

The firm’s strategy is seen as a new corporate model, transforming idle cash reserves into yield-bearing crypto assets that support innovation and capital efficiency.

Ethereum treasuries: institutional adoption explodes

SharpLink Gaming’s ETH holdings headline a broader trend: corporate Ethereum treasuries are going mainstream.

• Bit Digital, another publicly listed company, recently converted $172 million into ETH, selling its entire BTC stack.

• GameSquare Holdings announced a $100 million ETH allocation, aiming for 8–14% yield, well above standard 3–4% staking returns.

• BlackRock’s ETHA ETF saw $489 million in inflows on a single day, pushing total Ethereum ETF holdings to 5 million ETH, or 4.02% of the total supply.

Even Trump-linked World Liberty Financial joined the fray, buying $4.99 million in ETH, signaling bipartisan corporate interest in Ethereum’s long-term potential.

ETH supply shrinks as corporate demand explodes

Currently, over 35 million ETH are staked, representing 28% of the entire circulating supply. With Ethereum-focused firms acquiring ETH at 36 times the daily issuance rate, the supply crunch is real—and bullish.

SharpLink Gaming’s ETH holdings, now at 353,000 ETH, stand as a testament to this growing scarcity. As the SEC relaxes its stance on staking-as-a-service, institutional players now see Ethereum as both compliant and lucrative.

“Ethereum’s utility, yield potential, and scarcity are making it the preferred digital asset for sophisticated treasuries,” said Matt Hougan, CIO at Bitwise Asset Management.

SharpLink Gaming’s ETH holdings represent more than just a financial bet—they signal a corporate paradigm shift.

With Ethereum’s native yield, growing DeFi stack, and regulatory green lights, firms like SharpLink are turning crypto theory into balance sheet reality.

If MicroStrategy defined Bitcoin’s role as a corporate treasury asset, SharpLink believes it can set the gold standard for Ethereum, and others are taking note.