TL;DR
- SharpLink Gaming has strengthened its position as the second-largest corporate Ethereum holder by adding 77,210 ETH worth about $295 million, pushing its total ETH treasury past 438,000 coins.
- The Nasdaq-listed firm recently appointed former BlackRock executive Joseph Chalom as co-CEO, reinforcing its crypto-focused leadership.
- Most of the newly acquired ETH has been staked to generate passive rewards and strengthen its decentralized finance exposure.
SharpLink Gaming has once again made headlines in the crypto market by securing an additional 77,210 Ether tokens, raising its total ETH balance to an impressive 438,017 coins valued at around $1.7 billion at current prices. This acquisition, confirmed by onchain data provider Lookonchain, reflects SharpLink’s steady commitment to expanding its digital asset treasury.
Founded with a focus on sports betting technology, SharpLink has pivoted strongly into blockchain, positioning Ethereum at the center of its treasury strategy. The company’s move stands out at a time when traditional financial institutions are still grappling with the pace of crypto adoption. Notably, the newly purchased ETH amount surpasses the net Ether issued network-wide over the last month, highlighting the firm’s bold approach to securing scarce assets.
BlackRock Veteran Strengthens Leadership Team
The leadership reshuffle has added momentum to SharpLink’s ETH ambitions. The appointment of Joseph Chalom, a former BlackRock executive with two decades of experience in digital assets, brings heavyweight credibility to SharpLink’s crypto strategy. During his tenure at BlackRock, Chalom played a central role in launching the firm’s first spot ETH ETF and advised on blockchain integrations.
Current CEO Robert Pythian will soon step into the president’s role, while Ethereum co-founder Joseph Lubin remains as chairman of the board. This leadership team signals to investors that SharpLink aims to bridge institutional finance with decentralized networks.
Corporate ETH Holdings Reach New Heights
Recent filings show SharpLink plans to boost its stock offering from $1 billion to $6 billion, allocating the majority of new capital to expand its ETH reserves. By staking a large portion of its coins, the company not only supports the network but also generates additional yield, tapping into Ethereum’s evolving proof-of-stake model.
According to industry trackers, corporate and ETF entities now hold more than 8 million Ether, equivalent to nearly 7% of the entire circulating supply. Bitmine Immersion Technologies remains the largest corporate holder, but SharpLink’s continued accumulation keeps it in close pursuit.
As the network continues to run without interruption, the firm’s long-term vision is to benefit from Ethereum’s role in decentralized finance and tokenized assets.
