SharpLink secures $425M to invest in Ethereum.
Ethereum co-founder Joe Lubin backs the ETH treasury push.
ETH price jumps 43% as demand outpaces supply.
Another $1B in ETH purchases could follow.
$425M Ethereum treasury move by SharpLink move could trigger a major ETH rally, marking a new era in corporate crypto strategy.
In a landmark move that could shift Ethereum’s standing in institutional finance, SharpLink Gaming Inc. (NASDAQ: SBET) has raised $425 million to build the largest public Ethereum treasury to date. The funding round, led by Consensys and its CEO Joe Lubin, marks a significant turning point not just for the company – but potentially for Ethereum’s market narrative.
SharpLink, an online casino affiliate marketing firm, is hardly a household name in crypto. But its bold treasury pivot could make it Ethereum’s equivalent of what Michael Saylor’s MicroStrategy is to Bitcoin. And the timing may be perfect.
LUBIN FOLLOWS SAYLOR’S PLAYBOOK – BUT WITH ETHEREUM
Joe Lubin, co-founder of Ethereum and CEO of blockchain software firm Consensys, has now taken over as Chairman of SharpLink’s board. In interviews, Lubin said the idea was sparked after a dinner with Michael Saylor, the man behind MicroStrategy’s Bitcoin treasury strategy that triggered institutional BTC buying sprees.
Unlike Saylor’s ultra-leveraged approach, Lubin says the Ethereum strategy will be more cautious but just as ambitious. An additional $1 billion in ETH purchases is planned, with the long-term goal of making Ethereum the company’s core reserve asset.
“This isn’t just a financial move – it’s a bet on Ethereum becoming the foundation of global digital infrastructure,” Lubin stated.
SHARPLINK’S PIVOT: FROM I-GAMING TO ETH TREASURY
SharpLink’s core business remains in affiliate marketing for online casino and sports betting operators. But this treasury strategy marks a radical repositioning. The company now wants to blend its traditional business model with crypto-native financial strategies, including staking, decentralized finance (DeFi) and protocol-level participation in the Ethereum ecosystem.
To oversee its treasury activities, SharpLink has signed asset management agreements with ParaFi and Galaxy Digital, two major players in crypto fund management.
And markets are reacting. Following the May 27 announcement, SharpLink’s stock exploded from $3.58 to a high of $92.87, a 2,500% surge in just days. While it has since pulled back to around $48, the message is clear: investors are hungry for bold ETH-based plays.
WHY THIS COULD MATTER FOR ETHEREUM’S PRICE?
ETH has already rallied 43% in the past month, fueled in part by the successful Pectra upgrade and renewed interest from institutions. According to data from CoinGlass, there’s a large liquidation cluster between $4,000 and $4,500, suggesting a price magnet effect – if ETH continues upward, short positions may be forced to cover, triggering a rally.
SharpLink’s treasury could amplify this trend. With another $1 billion in potential ETH buying on the horizon, supply-side pressure may increase significantly. Ethereum’s staking mechanics and long lock-up periods already reduce circulating supply. A publicly listed entity hoarding ETH for long-term strategy only adds to the scarcity.
ETHEREUM VS. BITCOIN: SHIFTING THE NARRATIVE
For years, Bitcoin has dominated the institutional narrative. But that may be changing. While companies like GameStop and Trump Media announced BTC purchases only to see their stock prices fall, SharpLink’s ETH strategy sent its stock soaring.
The difference? Ethereum isn’t just a store of value – it’s an engine for financial applications, stablecoins, NFTs and tokenized assets. For investors betting on utility and long-term adoption, Ethereum may offer a more dynamic thesis.
FINAL THOUGHTS
SharpLink may be not be a major firm, but its Ethereum treasury move could set off a wave of copycats – especially if its stock continues to outperform. If Ethereum sees growing institutional adoption similar to what Bitcoin did in 2020–2021, this could mark the beginning of an ETH treasury supercycle.
With Joe Lubin at the helm, serious capital flowing in and a maturing DeFi landscape, the question now isn’t just whether Ethereum will rally – but how far it could go when public markets start treating ETH not just as an asset, but as the backbone of the next financial era.
〈SharpLink $425M Ethereum Bet: Will It Fuel the Next ETH Rally?〉這篇文章最早發佈於《CoinRank》。
