SharpLink Gaming Buys 270,000 ETH, Surpassing Ethereum Foundation

SharpLink Gaming, a Nasdaq listed company, has surpassed the Ethereum Foundation to become the largest known holder of Ethereum (ETH)...

Written by: Arslan Butt • Tuesday, July 15, 2025 • 1 min read

Last updated: Tuesday, July 15, 2025

Quick overview

SharpLink Gaming has become the largest holder of Ethereum, surpassing the Ethereum Foundation with 270,000 ETH valued at over $720 million.
The company has aggressively accumulated ETH, purchasing over 60,000 ETH in the last five days, including a significant buy from the Ethereum Foundation.
SharpLink's stock has surged by 60% in the last month and 275% year-to-date, reflecting strong investor confidence in both Ethereum and the company's strategy.
Ethereum's price has risen 18% in the past week, supported by institutional inflows and bullish sentiment from both retail and institutional investors.

SharpLink Gaming, a Nasdaq listed company, has surpassed the Ethereum Foundation to become the largest known holder of Ethereum (ETH) with 270,000 ETH. According to EmberCN blockchain analytics, SharpLink’s ETH position is now worth over $720 million with unrealized gains of $81 million. They have been on a buying spree since early June, similar to MicroStrategy’s Bitcoin accumulation strategy.

In the last 5 days, SharpLink bought 60,582 ETH for $180 million. In the last 24 hours, they added 16,374 ETH for $50 million. The community is stunned as most of these purchases were done through over-the-counter (OTC) transactions to avoid market volatility.

SharpLink also bought over 10,000 ETH directly from the Ethereum Foundation last week, solidifying their position as the largest ETH holder.

Strategic ETH Buying Pays Off

SharpLink’s average cost per ETH is around $2,667. With ETH currently above that, they are sitting on a paper gain of $81.8 million. This aggressive buying shows institutional belief in Ethereum’s long term utility and potential.

After the news, SharpLink’s stock (SBET) has skyrocketed:

60% in the last month
275% year to date

This price move shows investor confidence not only in Ethereum but also in SharpLink’s crypto strategy. Other companies like GameSquare are now exploring Ethereum accumulation.

ETH Price Rises With Institutional Support

ETH has risen 18% in the last week, breaking above $3,000. Daily trading volume has jumped 43% to $25 billion, retail and institutional investors are both bullish.

Ethereum ETFs saw $900 million in inflows last week, their strongest week since launch. EMJ Capital founder Eric Jackson believes staking functionality in ETFs will be available before October 2025.

“Once that happens, ETH will be the first yield-bearing crypto ETF in US history,” Jackson said, projecting an ETH price of $10,000.

With increasing adoption, institutional inflows and corporate treasuries like SharpLink’s, the ETH narrative is getting stronger.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.