SharpLink Gaming Surpasses All Public Companies in ETH Holdings
SharpLink Gaming, a Nasdaq-listed company, has amassed a substantial Ethereum (ETH) reserve. it now holds more ETH than any other public firm. The company staked 95% of its holdings to earn rewards and bolster Ethereum’s network.
On June 13, SharpLink Gaming revealed it bought 176,270.69 ETH for $462,947,816. This move positions SharpLink as the second-largest ETH holder globally, just behind the Ethereum Foundation.
SharpLink’s decision to stake over 95% of its ETH holdings is strategic. It aims to generate passive income for shareholders and enhance ethereum’s network security. This bold move underscores SharpLink’s belief in Ethereum’s future as a cornerstone of digital commerce and decentralized applications.
SharpLink’s ETH acquisition, partly funded by a $79 million capital raise, has already shown positive results. As early June, the company has seen an 11.8% increase in ETH-per-share value. This highlights the potential benefits of a crypto-focused reserve policy.
Rob Phythian, CEO of SharpLink Gaming, stated, “Ethereum is the future of digital commerce. Our decision to make ETH our primary treasury reserve asset reflects our strong belief in its role as a yield-bearing digital capital.”
SharpLink’s timing is significant. As the U.S. Congress advances stablecoin and digital asset market structure legislation, institutional adoption of Ethereum is gaining legitimacy. Joseph Lubin, SharpLink’s chairman and Ethereum co-founder, sees this as a pivotal moment for institutional crypto adoption.
SharpLink’s half-billion-dollar investment in ETH is not just a bet on its price. It’s a commitment to Ethereum’s role in decentralized finance, digital ownership, and next-gen internet infrastructure. With clear crypto regulations, SharpLink may soon be seen as an early adopter in a wave of corporate crypto treasuries.
