SharpLink Gaming Boosts Ethereum Treasury to 188,478 ETH, Stock Surges

SharpLink Gaming, a publicly traded gaming tech company, has significantly increased its Ethereum (ETH) treasury holdings, solidifying its position as the world's largest publicly traded ETH holder. This strategic move, which saw the company acquire an additional 12,207 ETH for approximately $30.7 million, brings its total ETH treasury to 188,478 ETH, valued at nearly $470 million.

SharpLink Gaming Bolsters Ethereum Treasury

SharpLink Gaming announced on June 24, 2025, that it had expanded its Ethereum treasury by acquiring an additional 12,207 ETH between June 16 and June 20. This purchase, made at an average price of $2,513 per ETH, increased the company's total holdings to 188,478 ETH. To finance this acquisition, SharpLink raised $27.7 million in net proceeds through an at-the-market (ATM) offering, selling over 2.5 million shares.

Key Takeaways

• SharpLink Gaming is now the largest publicly traded holder of Ethereum globally.

• The company's total ETH holdings stand at 188,478 ETH, valued at approximately $470 million.

• All of SharpLink's ETH holdings are staked, generating rewards, with 120 ETH earned since June 2, 2025.

• Ethereum co-founder Joseph Lubin serves as the Chairman of SharpLink's Board, underscoring the company's commitment to its ETH-focused strategy.

• The company's stock (SBET) has seen significant volatility, including a 45% surge following the announcement and a prior 70% drop due to misinterpretations of an SEC filing.

Strategic Shift and Staking Initiatives

SharpLink Gaming's pivot to an Ethereum-centric treasury strategy marks a significant shift for the company, previously focused on iGaming engagement. This move is heavily influenced by the involvement of Ethereum co-founder Joseph Lubin, who joined the firm as Board Chairman. Lubin emphasized that this strategy reflects confidence in Ethereum's utility and its potential to unlock new value for the business and its stockholders.

Notably, SharpLink has staked 100% of its ETH holdings, generating 120 ETH in rewards since launching its ETH-focused treasury strategy on June 2, 2025. This staking initiative has contributed to an 18.97% increase in ETH per share during this period.

Market Reaction and Future Outlook

The announcement led to a significant surge in SharpLink's stock, with shares jumping 45% on Monday. This positive market reaction follows a period of high volatility for SBET, including a 70% drop last week due to investor misinterpretations of an S-3 filing related to the registration of PIPE shares. Joseph Lubin clarified that the filing simply allows investors to sell but does not indicate an intention to do so.

SharpLink's aggressive accumulation and staking of ETH position it as a unique investment vehicle, offering investors direct exposure to Ethereum's price movements and the growing decentralized finance (DeFi) ecosystem. The company intends to regularly update its stockholders on its digital asset strategy and broader growth initiatives as it continues to leverage blockchain technologies.

Sources

• Ethereum treasury company SharpLink gaming surges 45% as ETH leads rally, TheStreet.

• SharpLink Gaming (SBET) Adds to ETH Holdings, CoinDesk.

• SharpLink Gaming Amasses 188,478 Ethereum Worth $473M in Treasury, Stock Titan.

• SharpLink Gaming Boosts Holdings to 188,478 ETH, SBET Stock Jumps, The Crypto Times.

• SharpLink Gaming Boosts Ethereum Treasury Stash to $461 Million, Decrypt.