Sharplink Buys 10,000 ETH Directly from Ethereum Foundation
Publicly traded Sharplink acquires $25.7M in ETH directly from the Ethereum Foundation, signaling a deep institutional commitment.
Nasdaq-listed Sharplink Gaming has made a historic move in crypto treasury strategy, acquiring 10,000 ETH directly from the Ethereum Foundation in a $25.7 million on-chain transaction. The July 10 deal, settled via the Foundation’s multisig wallet at an average price of $2,572.37 per ETH, positions Sharplink as the second-largest corporate holder of Ethereum, trailing only the Foundation itself.
The purchase is the largest ever direct acquisition of ETH by a publicly traded firm and bypasses conventional exchange or OTC channels. This strategic move underscores a growing trend among institutions to integrate deeper with Ethereum’s ecosystem—both financially and philosophically.
A New Model of Institutional Adoption
Sharplink’s decision to purchase ETH directly from the Ethereum Foundation rather than on the open market sets a precedent for what Chairman Joseph Lubin, who also co-founded Ethereum and leads Consensys, sees as the next phase of institutional crypto integration.
“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,” said Lubin in a company statement.
Sharplink has committed not just to hold ETH but to stake and restake it, contributing to the security and resilience of the Ethereum network. Lubin emphasized that this move represents a shift toward a more engaged, stewardship-based model of corporate involvement in crypto—one in which mission-aligned organizations directly support the infrastructure they rely on.
This approach, he noted, reduces circulating supply, enhances decentralization, and creates a more stable network foundation for the future.
Ethereum Foundation’s Sale Sparks New Debate
While Sharplink’s acquisition made headlines, the Ethereum Foundation’s role in the transaction reignited ongoing discussions around its treasury management practices.
The Foundation confirmed the sale, stating that the proceeds would support its core operations:
- Protocol research and development
- Community grant programs
- Infrastructure maintenance and expansion
Headquartered in Zug, Switzerland, the Foundation is known for occasional ETH sales to fund its initiatives. Despite its transparency, the timing of these sales often draws criticism—especially during periods when Ethereum underperforms other assets like Bitcoin or Solana.
On the same day as the Sharplink deal, on-chain analysts noted that a suspected Foundation wallet sold an additional 100 ETH via CoW Protocol, swapping it for 336,475 DAI. These operational moves, while consistent with past behavior, continue to generate scrutiny.
According to StrategicETHReserve, the Foundation holds approximately 242,487 ETH, currently worth just over $725 million, and remains a key pillar in Ethereum’s long-term development.
ETH Price Gains Steam as Institutions Pile In
Sharplink’s bold ETH acquisition comes during a powerful market upswing for Ethereum. This week, ETH surged over 15% in just three days, breaking above the $3,000 mark for the first time in five months.
The rally coincides with Bitcoin’s explosive rise to a new all-time high of $118,000, lifting the broader market sentiment. However, Ethereum’s momentum isn’t just a byproduct of Bitcoin’s success—it’s being fueled by robust fundamentals and accelerating institutional demand.
Key Drivers Behind ETH’s Bullish Outlook:
- US Spot ETH ETFs have now recorded five consecutive days of net inflows, totaling more than $623 million
- BlackRock’s iShares ETH ETF led the charge with a $300.9 million single-day inflow, a record that signals surging investor confidence
- ETH balances on exchanges have dropped to an 8-year low of just 13.5%, pointing to long-term accumulation
- Wallets holding over 100,000 ETH have collectively added more than 700,000 ETH since late May, now totaling 18.8 million ETH
Bloomberg’s senior ETF analyst Eric Balchunas remarked that BlackRock’s massive ETF inflow was “4x the usual volume”, highlighting the depth of institutional engagement.
Technicals Suggest Ethereum Is Just Getting Started
Analysts believe Ethereum’s current rally could be the start of a larger bull cycle. The asset has now broken above both its 200-day and 200-week exponential moving averages, historically strong indicators of further upside.
Market watchers suggest Ethereum is entering “Wave 3” of a five-wave Elliott cycle, with near-term targets between $4,000–$5,000. Some forecasts even see $10,000 within reach by early 2026, contingent on continued institutional flows, low exchange supply, and macroeconomic alignment.
With momentum building, Ethereum traders are increasingly bullish. One widely followed account projected a breakout above $4,000 by late summer and a potential all-time high of $5,700, followed by a brief correction. The $10,000 milestone, they believe, could follow shortly after.
Ethereum’s Institutional Era Has Arrived
Sharplink’s ETH purchase marks a symbolic and strategic milestone in Ethereum’s path toward full institutional adoption. By acquiring, staking, and restaking directly with the Ethereum Foundation, the company has tied its treasury strategy to the health and decentralization of the network itself—a rare alignment in the crypto space.
At the same time, surging ETF inflows, shrinking exchange balances, and growing whale activity point to a maturing market dynamic. Ethereum is no longer just a speculative asset—it’s becoming a critical infrastructure layer for finance, technology, and corporate innovation.
As institutions like Sharplink lead by example, the case for Ethereum’s long-term value proposition continues to strengthen. Whether ETH reaches $10,000 this year or next, one thing is clear: the conviction behind Ethereum’s future has never been stronger.
