SharpLink Gaming has overtaken the Ethereum Foundation to become the largest corporate holder of Ethereum, controlling 280,600 ETH worth nearly $886 million.
The combined Ethereum reserves of the top 10 firms have surged to 1.6 million ETH, valued at over $5 billion, signaling growing institutional confidence in Ethereum.
According to COINOTAG, Bit Digital led 30-day ETH accumulation with a remarkable 264.20% increase, while Ethereum Name Service (ENS) reduced its holdings by 17.79%, reflecting shifting corporate strategies.
SharpLink surpasses Ethereum Foundation as top corporate ETH holder; top 10 firms now control $5B in Ethereum, highlighting institutional growth and shifting asset allocations.
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SharpLink Gaming’s recent acquisition of 280,600 ETH, valued at approximately $885.9 million, marks a significant milestone in institutional Ethereum holdings. This surpasses the Ethereum Foundation’s reserve of 241,500 ETH, currently worth around $762.4 million. Over the past 30 days, SharpLink increased its holdings by 59.19%, underscoring an aggressive accumulation strategy that positions the company at the forefront of corporate Ethereum investors. This shift highlights a broader trend of non-traditional crypto entities embracing Ethereum as a strategic reserve asset.
SharpLink’s rise to the top spot among Ethereum holders suggests a strategic pivot towards leveraging Ethereum’s blockchain capabilities beyond mere asset holding. With a substantial ETH reserve, SharpLink is well-positioned to engage in decentralized finance (DeFi), on-chain governance, and other blockchain-based initiatives. The Ethereum Foundation’s 6.91% decline in holdings contrasts with SharpLink’s growth, indicating a redistribution of Ethereum assets from foundational entities to corporate players. This development reflects increasing institutional diversification and confidence in Ethereum’s long-term utility and value proposition.
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Source: https://en.coinotag.com/sharplink-may-surpass-ethereum-foundation-in-corporate-eth-holdings-as-top-firms-control-5-billion-in-ethereum/