SharpLink’s $463M ETH buy signals a new era of Ethereum treasury strategies, mirroring early Bitcoin corporate adoption.
Whales added 1.49M ETH this month while OTC buys spiked, tightening supply as retail investors stay cautious on the sidelines.
Ethereum’s +39.90% Q2 rebound collides with Middle East turmoil, exposing price to geopolitical risk despite strong accumulation.
Ethereum just saw its first MicroStrategy-style moment. SharpLink Gaming (NASDAQ: SBET) announced a $463 million Ethereum acquisition, 176,270.69 ETH at an average price of $2,626, marking a turning point in institutional crypto adoption.
SharpLink Goes All-In on Ethereum Treasury Strategy
In a move reminiscent of Bitcoin's adoption by public companies, SharpLink Gaming has positioned Ethereum as its primary treasury asset. According to a report by Cipher X, the company funded the acquisition using $79 million raised via its ATM facility since June 2, 2025, and it plans to raise to $1 billion, signaling intent for further ETH buys.
Over 95% of this ETH has already been staked in various Ethereum protocols, aligning capital deployment with network security and passive yield generation. This strategic pivot now makes SharpLink the largest publicly traded ETH holder, setting a precedent for other firms to follow.
The company framed its decision as a direct shift away from traditional fiat-based capital reserves. It stated that ETH provides long-term value exposure and yield-generating capability, anchoring the belief that blockchain-based assets offer superior capital efficiency for modern treasuries.
Whale Accumulation Intensifies as Ethereum Supply Tightens
While SharpLink’s announcement raised eyebrows, Ethereum whales have been silently positioning themselves. Crypto Patel reported that 166,199 ETH—worth over $435 million—has been accumulated via OTC deals in just the past two weeks. Most of these buys hovered around the $2,618 range, consistent with SharpLink’s entry point.
Another layer of accumulation was confirmed by Leon Waidmann, who noted that 6,392 wallets holding between 1,000–100,000 ETH added 1.49 million ETH in the last 30 days. These wallets now control nearly 27% of Ethereum’s circulating supply. This paints a picture of a market under institutional capture, even as retail sentiment remains hesitant.
Ethereum’s Q2 rebound also adds fuel to the bullish narrative. Mister Crypto highlighted a +39.90% quarterly return so far, reversing a brutal -45.41% in Q1. The shifting momentum indicates growing market optimism, though not without caution.
Middle East Tensions Add a Layer of Market Volatility
Despite these bullish developments, Ethereum is not immune to global macro shocks. Geopolitical tensions in the Middle East, especially recent escalations between Iran and Israel, have caused sharp market pullbacks. ETH fell from $2,772 to $2,482 as markets reacted to military strikes and rising instability.
While accumulation trends remain intact, it’s worth clarifying that global risk sentiment is still fragile. Some observers believe the ongoing conflict could spark wider financial volatility, influencing capital flows across risk-on assets like cryptocurrencies.
The post Ethereum Update: SharpLink Buys 176K ETH at $2,626, Now Largest Public Holder, Whales Accumulate appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
