Sharplink Gaming Inc. is making a bold crypto move — raising up to $1 billion to accumulate Ethereum (ETH) as a primary treasury asset, according to its May 29 S-5 filing 📄.

🚀 Key Highlights:

  • Sharplink plans to sell 72M+ shares via an “at-the-market” offering, aiming to raise $1B.

  • Proceeds will go toward buying ETH, plus funding working capital and expanding affiliate operations.

  • Follows a $425M PIPE raise led by Consensys, with support from Galaxy Digital, ParaFi, Ondo, and Pantera Capital.

📊 PIPE Deal Details:

69M+ shares sold at $6.15 each.

Ethereum co-founder and Consensys CEO Joseph Lubin joins Sharplink’s board as Chairman.

The PIPE caused Sharplink stock to skyrocket over 400%, peaking at $52, before easing to $35.80. 📈

📍 Strategy-Style Playbook, ETH Edition:

Sharplink is emulating the Strategy model of crypto treasury allocation — but choosing ETH over BTC.

This comes as Ethereum gains momentum from the Pectra upgrade and new Ethereum Foundation leadership. 🔧🌐

📉 Market Impact:

The $1B filing caused an 8% dip in Sharplink stock, highlighting volatility despite bullish sentiment.

🏦 Trend Alert:

  • Sharplink joins a growing list of firms betting big on crypto:

  • Semler Scientific & Metaplanet with Bitcoin,

  • Upexi & DeFi Development Corp. with Solana,

  • Spirit aims to become the “Strategy of Dogecoin” 🐶🚀

🔮 Bottom Line: Sharplink’s ETH treasury strategy signals growing corporate confidence in Ethereum’s long-term value — and could pave the way for more altcoin-focused treasury strategies across the public markets.