SharpLink Becomes Largest Corporate ETH Holder With 280,706 ETH Staked

Key Insights:

• SharpLink acquired 74,656 ETH between July 7–13, lifting its holdings to 280,706 ETH.
• 99.7% of its ETH is staked, generating 415 ETH in yield since June 2.
• ETH concentration metric jumped 23% in one month, indicating stronger treasury commitment.

SharpLink Gaming (NASDAQ: SBET) has officially become the world’s largest corporate holder of Ethereum. Between July 7 and July 13, the company acquired approximately 74,656 ETH at an average price of $2,852, totaling about $213 million. This purchase raised SharpLink’s total ETH holdings to 280,706 ETH.

The firm’s current Ethereum balance is now valued near $858 million, based on Tuesday’s ETH market price of $3,000. This surpasses the Ethereum Foundation’s treasury, which holds around 196,354 ETH valued at $591 million, per Arkham data. SharpLink also bought 10,000 ETH directly from the Ethereum Foundation last week.

The company financed its ETH acquisitions using proceeds from an at-the-market (ATM) share sale, raising approximately $413 million between July 7 and July 11. SharpLink reported that $257 million from the offering remains available for further ETH purchases. SBET stock jumped 10% following the announcement, as reported by Yahoo Finance.

Staking Strategy and Growing Institutional ETH Allocation Metrics

Nearly 99.7% of SharpLink’s ETH holdings are currently staked, generating around 415 ETH in rewards since June 2. This includes 94 ETH earned last week alone, emphasizing the firm’s active approach to treasury management. The firm introduced an “ETH concentration” metric to track ETH exposure per 1,000 diluted shares.

As of July 13, ETH concentration stood at 2.46, up from 2.00 in mid-June — marking a 23% rise. SharpLink launched its Ethereum treasury strategy in May with a $425 million private placement led by Consensys. Ethereum co-founder and Consensys CEO Joseph Lubin now chairs SharpLink’s board, aligning leadership with the ETH-first direction.

Analyst TedPillows also pointed out on X that ETH/BTC’s weekly RSI broke its three-year downtrend. He added that a golden cross is approaching, which may fuel further ETH/BTC upside. This broader momentum may support institutional ETH adoption, as seen with firms like BitMine Immersion and Bit Digital following SharpLink’s lead.