Nasdaq-listed company Sharplink Gaming announced that it purchased $463 million worth of Etheruem (ETH).
According to the official statement, the company purchased 167,000 ETH worth $462.947 million at an average purchase price of $2,626 per Ethereum.
This acquisition makes Sharplink Gaming the largest public ETH holder in the world and the second largest holder after the Ethereum Foundation.
According to the statement, as of June 13, 2025, more than 95% of SharpLink’s ETH holdings are staked or used in liquid staking.
This provides local returns while contributing to Ethereum’s network security.
The company raised $79 million through a stock sale to support the acquisition and adopted ETH as its primary treasury reserve asset.
“This is a milestone for SharpLink and the adoption of digital assets by public companies. We believe Ethereum is a foundational infrastructure for the future of digital commerce and decentralized applications. Our decision to make ETH our primary treasury reserve asset reflects our deep belief in its role as programmable, yield-generating digital capital,” said Rob Phythian, Chief Executive Officer of SharpLink Gaming.
SharpLink Gaming President and Ethereum Co-Founder Joseph Lubin commented on the ETH purchase:
“SharpLink’s bold ETH strategy represents a significant milestone and innovative approach to institutional adoption of Ethereum. It comes at a unique time as the U.S. Congress moves toward passing significant stablecoin and digital asset market structure legislation.
Hopefully, such legislation will act as a catalyst for the adoption of Ethereum technology, a decentralized network that can serve many functions in participating in the global economy.
“By allocating significant capital to ETH and distributing it across network activities such as staking, SharpLink contributes to the long-term security and trust features of Ethereum while also earning additional ETH for this work.”
*This is not investment advice.
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