SharpLink Gaming Expands Ethereum Holdings to Over $68M, Now Holds 321K ETH

SharpLink Gaming (NASDAQ: SBET) has continued its aggressive Ethereum accumulation campaign, purchasing 20,279 ETH—worth approximately $68 million—on Wednesday alone. The latest acquisition cements the company’s status as the largest corporate holder of ETH.

Blockchain analytics from Arkham Intelligence show that SharpLink sourced 9,425 ETH from Galaxy Digital and 10,854 ETH from Coinbase Prime. Of that, 3,200 ETH was moved to Figment’s non-custodial staking platform, while 10,854 ETH was sent to Liquid Collective’s staking network, signaling an active staking strategy.

The company, originally known for its iGaming and affiliate marketing tools, pivoted sharply into crypto finance following a $425 million private placement in late May. That round was led by Consensys—whose CEO, Joseph Lubin, co-founded Ethereum and now serves as SharpLink’s chairman.

Since then, SharpLink has accumulated ETH in large tranches ranging from 10,000 to 25,000 tokens. Earlier this week, the firm disclosed it had surpassed the Ethereum Foundation’s treasury, with 280,706 ETH as of July 15. Fresh data from EmberCN now shows its holdings at 321,000 ETH.

SharpLink's bold crypto strategy appears to be resonating with investors. Shares of SBET closed at $37.38 on Wednesday—up 29% on the day and 113% over the past five trading sessions, according to Google Finance.

Meanwhile, Ethereum itself saw a 7% uptick in the past 24 hours, currently trading at $3,348.