SharpLink Gaming Inc. (NASDAQ:SBET) saw its shares rise 10% following the company’s announcement that it has acquired 10,000 Ether (ETH) directly from the Ethereum Foundation, solidifying its pivot toward a crypto-based treasury strategy.
The company revealed that the transaction, valued at approximately $25.7 million, was executed on the Ethereum mainnet at a per-token price of $2,572.37. The deal officially closed on July 10, 2025.
With this move, SharpLink claims the distinction of being the largest publicly traded firm to designate Ethereum as its primary treasury reserve asset. The purchase was made under a definitive agreement with the Ethereum Foundation, a prominent non-profit organization based in Zug, Switzerland, known for supporting the development and sustainability of the Ethereum blockchain ecosystem.
Joseph Lubin, Chairman of SharpLink and a key figure in Ethereum’s creation, emphasized the long-term commitment underlying the acquisition. “At a time when Ethereum is entering a new era of institutional relevance, we are proud to support the network’s long-term strength and decentralization mission.”
Lubin, who also leads blockchain technology firm Consensys, added that the company intends to actively stake and restake the ETH, aiming to reduce circulating supply while contributing to network security and resilience.
SharpLink’s ETH purchase underscores a broader trend of corporate interest in digital assets, particularly as Ethereum continues to evolve its role in decentralized finance, enterprise adoption, and blockchain infrastructure.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.