SharpLink Gaming, the Nasdaq-listed firm with a significant focus on Ethereum (ETH), has further grown its holdings with another major purchase. On Sunday, the company, which trades under the ticker SBET, acquired an additional 77,210 ETH, valued at approximately $295 million.
This latest acquisition was reported by on-chain analytics provider Lookonchain, which cited data from Arkham. The purchase brings SharpLink's total ETH treasury to around 438,017 ETH, with a current market value of approximately $1.7 billion. This solidifies SharpLink's position as one of the largest corporate holders of Ethereum.
The company's commitment to its ETH treasury strategy was recently validated by a major new hire. Last week, Joseph Chalom, a former BlackRock executive, joined SharpLink as co-CEO. Joseph Lubin, co-founder of Ethereum and SharpLink's chairman, called Chalom's decision a "resounding validation" of the company's vision.
While SharpLink's stock closed down 5.7% on Friday, it has seen remarkable growth over the past month, rising 113.9%, and is up 186.3% year-to-date. The purchase comes as Ethereum's price has been on an upward trend, trading at $3,900 at the time of the report.
July 2025, Cryptoniteuae