SharpLink Overtakes Ethereum Foundation With $1.2B ETH Holdings

Minnesota firm becomes world’s largest corporate Ethereum holder amid growing institutional adoption.

In a bold move that cements its position as a crypto-forward enterprise, SharpLink Gaming has overtaken the Ethereum Foundation to become the largest known corporate holder of ETH, amassing over 353,000 Ethereum tokens valued at more than $1.2 billion. The Minneapolis-based performance marketing company’s strategy mirrors the high-profile Bitcoin playbook of MicroStrategy, signaling a deeper institutional pivot toward Ethereum as a primary treasury reserve asset.

SharpLink’s Ethereum Strategy Gains Momentum

Over the past nine days alone, SharpLink has acquired 144,501 ETH, including 32,892 ETH worth $115 million in just three hours, as Ethereum surged past $3,600, reaching six-month highs. This aggressive accumulation follows a $425 million capital raise through private placements and at-the-market offerings, with the funds explicitly earmarked for Ethereum purchases rather than traditional business expansion.

Nearly all of SharpLink’s ETH—99.7%—has been staked, earning an estimated 415 ETH in rewards since June. This approach not only supports Ethereum’s proof-of-stake consensus mechanism but also generates passive income from network validation.

“SharpLink is positioning itself as a public-market proxy for Ethereum exposure,” said Joseph Lubin, Ethereum co-founder and chairman of SharpLink’s board.

This hybrid strategy of treasury asset conversion plus staking reflects Ethereum’s dual role as both a programmable platform and a yield-generating asset.

From Marketing Tech to Ethereum Powerhouse

SharpLink’s transformation into a crypto-first enterprise began in late May when it secured significant capital backing, including leadership from Consensys, also chaired by Lubin. Since pivoting to an ETH-centric treasury model, the company’s stock (SBET) has soared:

• Stock price climbed 29% during the latest buying spree
• Overall, shares have increased sixfold since the treasury strategy shift
• Current SBET trading price is $36.40

One particularly symbolic purchase was a 10,000 ETH transaction directly from the Ethereum Foundation, valued at $25.7 million, executed through the foundation’s multisignature wallet. This move avoided centralized exchanges and underscored SharpLink’s institutional-grade approach to digital asset accumulation.

Between July 7 and July 18, SharpLink acquired 134,204 ETH at an average price of $2,970, totaling $398.66 million in investments during that period alone.

A New Corporate Treasury Model Emerges

SharpLink’s ETH-first treasury approach mirrors the strategy pioneered by MicroStrategy, which recently surpassed 600,000 BTC in holdings, as previously reported. The model involves converting cash reserves into cryptocurrency to serve as a primary treasury asset—but with Ethereum, companies are also tapping into staking yields and smart contract utility.

Other notable entrants into Ethereum treasuries include:

• Bit Digital, which offloaded 280 BTC to fund a $172 million ETH treasury, now holding over 100,000 ETH.
• GameSquare Holdings, which launched a $100 million ETH allocation plan, targeting 8–14% returns through advanced staking and DeFi strategies—well above the standard 3–4% returns from simple staking.
• World Liberty Financial, tied to Donald Trump, which recently disclosed an ETH purchase worth $4.99 million.

Meanwhile, Ethereum ETFs have attracted over $5.5 billion in inflows, led by BlackRock’s ETHA, which saw a record $489 million in single-day inflows on July 17. These products now hold 5 million ETH, equivalent to 4.02% of Ethereum’s $413 billion market cap, intensifying demand.

ETH Staking, ETF Growth Fuel Institutional Wave

With over 35 million ETH currently staked, more than 28% of the circulating supply is now locked in smart contracts, reflecting a shift from speculative trading to long-term yield-driven strategies. The sheer velocity of corporate ETH acquisitions now outpaces daily token issuance by 36x, tightening supply further.

The SEC’s relaxed posture on staking-as-a-service regulations has further encouraged this wave of institutional participation, removing a key compliance hurdle that had previously stalled broader adoption.

Ethereum’s Role in the Next Financial Era

What sets Ethereum apart in this evolving financial narrative is its ability to offer more than just capital preservation. As a programmable layer for decentralized applications, smart contracts, and financial infrastructure, Ethereum aligns with the strategic interests of companies that are not only hedging against inflation but also seeking exposure to the digital economy’s backbone.

SharpLink’s conviction that Ethereum represents “the base layer of the future global economy” is increasingly shared across sectors—especially as staking rewards, DeFi integrations, and ETF flows combine to offer returns traditional treasury strategies cannot match.

As SharpLink Gaming continues to expand its Ethereum holdings and influence, its strategy underscores a broader institutional awakening to Ethereum’s multi-dimensional value proposition. While Bitcoin remains the gold standard for digital value storage, Ethereum is fast becoming the digital engine for programmable finance, and SharpLink is leading the charge.