 
 
Nasdaq-listed SharpLink Gaming has become the world’s largest corporate holder of Ethereum (ETH) after boosting its treasury to 280,706 ETH.
SharpLink said in a July 15 press release that it had purchased another 74,656 ETH coins between July 7 and July 11 for $156 million at an average price of $2,852, lifting its holdings to a value of approximately $846 million based on Tuesday’s market price of around $3,000.
While the price of the second largest cryptocurrency has recently reclaimed the $3,000 threshold — its highest level in five months — the asset has underperformed Bitcoin in 2025.
With the latest buy, SharpLink has now overtaken the Ethereum Foundation, the development non-profit organization behind the blockchain, to become the largest known corporate Ether treasury. The Foundation owns roughly 196,354 ETH, valued at around $596 million, as per data from Arkham Intelligence.
Founded in Minneapolis as an affiliate marketing firm for gambling and sports betting sites, SharpLink is one of a string of companies previously not linked to crypto that have reinvented themselves as reserves, following the Bitcoin-focused playbook of Michael Saylor’s Strategy.
 
It pivoted in late May to an aggressive ETH treasury strategy after raising $425 million through a private placement led by Consensys. That deal onboarded Ethereum co-founder and Consensys CEO Joseph Lubin as chairman of SharpLink.
The firm leverages capital markets to raise money for Ether acquisitions, while operating validators and staking the tokens to earn rewards. SharpLink revealed it has earned 415 ETH (around $1.2 million at current prices) after allocating its holdings to protocols that let it participate in the process of validating Ethereum transactions.
The company has also launched an “ETH concentration” metric to help investors evaluate its exposure. The metric stood at 2.46 ETH per 1,000 diluted shares outstanding as of July 13, a 23% increase compared to the 2.00 ETH a month ago.
Source: https://zycrypto.com/sharplink-becomes-largest-corporate-holder-of-ether-with-280706-eth-usurping-ethereum-foundation/