SharpLink Gaming submitted a modification to raise its ATM limit by $5 billion so it could buy additional ETH.

After BitMine said that its ETH holdings were worth more over $1 billion, the change was made.

BlackRock asked Nasdaq to add staking to its Ethereum ETF.
ETH might keep going up to $4,000 to reach the goal of a bullish pennant.

Ethereum (ETH) shot up above $3,500 for a short time on Thursday after SharpLink Gaming (SBET) submitted an amendment to add $5 billion to its At-The-Market (ATM) facility. The change comes after BlackRock, an asset manager, filed to add staking to its iShares Ethereum Trust (ETHA), which had a record $500 million in net inflows on Wednesday.

Listed on Nasdaq SharpLink Gaming filed a prospectus supplement on Thursday to raise its At-The-Market (ATM) facility with Alliance Global Partners (AGP) from $1 billion to $6 billion. The corporation will utilize almost all of the money it may make from the sale to grow its Ethereum treasury, according to the new deal.

The filing says, "With this Prospectus Supplement, we are increasing the total amount of Common Stock that may be sold under the Sales Agreement to $6 billion, comprising up to $1 billion under the Prior Prospectus and an additional $5 billion under this Prospectus Supplement."

SharpLink, which now possesses more than 280,000 ETH, isn't the only treasury firm that is improving how it buys ETH.

BitMine Immersion Technologies (BMNR), a company that used to mine Bitcoin, said that their ETH treasury had grown to over 300,000 ETH, which was valued more than $1 billion at the time of writing. The business, which has Peter Thiel's Founders Fund as a major investor, stated that its assets are now worth more than three times the $250 million it received in a private placement earlier this month.

Bit Digital, BTCS, and GameSquare are just a few of the publicly listed firms that have switched to an ETH treasury in the last two months. These firms have said they would use a similar plan to boost shareholders' ETH per share by getting yield from staking their shares and seeing the price go up.

According to the StrategicETHReserve website, ETH treasury businesses have added more than 700,000 ETH to their reserves since the end of May.

On Thursday, Nasdaq asked the Securities and Exchange Commission (SEC) to let BlackRock add staking to its iShares Ethereum Trust (ETHA).

James Seyffart, a Bloomberg analyst, said in an X post on Thursday, "The Blackrock filing today won't have a final deadline until about April 2026, but we think staking will likely be approved by at least Q4 '25."

Fidelity, Grayscale, and Bitwise are just a handful of the Ethereum ETF issuers who have asked the SEC to include staking in their products during the last several months. They are now waiting for the SEC's verdict.



BlackRock's filing comes after the fund brought in a record $500 million on Wednesday, which pushed the whole US spot Ethereum ETF category to its biggest daily inflow of $726.74 million, according to SoSoValue statistics. The products have brought in more over $4 billion in net inflows since mid-April, showing that institutional investors are becoming more interested in ETH.

According to statistics from Coinglass, Ethereum saw $177.47 million in futures liquidations in the last 24 hours. The total amount of long and short liquidations is $77.35 million and $100.11 million, respectively.

ETH challenged the important resistance level at $3,470 after rising more than 35% since July 8 and breaking through a symmetrical triangle and an ascending right-angled expanding wedge. If ETH breaks over the resistance, it might continue its upward trend all the way to $3,570, which would be the goal for the ascending expanding wedge.

The top cryptocurrency might keep going up toward the $4,000 goal, which comes from a larger bullish pennant pattern that started on May 8. But for this move to happen, it needs to go over important levels at $3,570 and $3,740.

On the other hand, ETH might find support at important levels like $3,220, an upward trendline, the 14-day Exponential Moving Average (EMA), and the $2,850 mark.

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