The Sharplink Gaming sports betting platform has acquired 176,271 $ 463 million and have become the world's largest listed ETH holder.
In an announcement on Friday, the Nasdaq-cunning company said that the acquisition of ether (ether) was financed by a mixture of personal placement and stock sales of the market, including $ 79 million, which have been raised since May 30. The average acquisition price was $ 2,626 per coin.
The company said that over 95% of its ETH are actually utilized in sects and liquid settings and achieve the return and at the identical time contribute to the network security of Ethereum.
“This is a pioneering moment for Sharplink and for the introduction of digital assets from the general public company,” said Rob Phythian, CEO of Sharplink Gaming, and added that the corporate treats ETH as a “primary reserve reserve value”.
“Mikrostrategy from ether”
The Bitcoin strategy (BTC) from Sharplink reflects strategy, but focuses on Ethereum and makes it the primary listed company that uses ETH because the core assets of the core reserves.
Sharplink (Sbet) is the primary company with the Nasdaq list to say goodbye to an ETH-based financial model that gives shareholders “meaningful economic engagement in ETH”, the corporate said.
“Sharplink's Kühner ETH strategy is a decisive milestone and an modern approach to the institutional introduction of Ethereum,” said the chairman and co-founder of Sharplink and Ethereum co-founder Joseph Lubin within the announcement.
“By assigning considerable capital for ETH and providing network activities corresponding to setting, Sharplink contributes to the long-term security and trust properties of Ethereum, while they earn additional ETH for this work,” he added.
Who has more Ethereum than Sharplink?
While Sharplink has grow to be the biggest listed owner of ether worldwide, some firms still hold more ETH.
According to Arkham Data, the Ethereum Foundation now holds 214.129 ETH (594 million US dollars) in its Ministry of Finance.
Crypto Holdings of the Ethereum Foundation from June 13, 2025. Source: Arkham
Some crypto-exchange funds (ETFs) providers corresponding to Blackrock even have a significantly larger amount of ether, although on behalf of shoppers. According to Blackrock data, the Ishares Ethereum Trust ETF held around 1.7 million ETH value around 4.5 billion US dollars from Thursday.
Controversy concerning the Sharplink's ETH strategy
The Sharplink ETH strategy didn’t come without controversy. According to its announcement of the ETH Finance Ministry, the corporate's share price rose greater than 400%of May 27, as CoinTelegraph reported.
After the announcement of an S -3 -SEC entry firstly of this week, the shares fell around 73% on Thursday after trading within the hour and, in line with Google Finance, fell from USD 32.53 before they were partially recovered. The sharp sale was stimulated by a misunderstanding: the submission enabled the potential resale of just about 58.7 million shares of whistle participants; It was not an actual sale.
Sharplink Chairman Lubin made it clear that this was a routine regulatory procedure and never an insider discharge.
The purchase follows a broader trend of adoption of corporate crypto treasury, which repeats the top-class bitcoin strategy of the strategy, but puts ether in the middle of digital capital reserves.
