SharpLink Gaming now holds 237,121 ETH after a $90M purchase showing its strong commitment to Ethereum treasury growth.
SBET stock jumped 63% this week as SharpLink gained investor confidence through its Ethereum accumulation strategy.
Ethereum treasury moves by SharpLink and others signal rising institutional interest in holding ETH as a core asset.
SharpLink Gaming has made a major push into Ethereum with the acquisition of 31,487 ETH, valued at $90 million. The Nasdaq-listed company first entered an agreement with the Ethereum Foundation to acquire 10,000 ETH. Soon after, it purchased an additional 21,487 ETH from the open market using over-the-counter deals on Coinbase Prime.
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Following these transactions, SharpLink's total Ethereum holdings have reached 237,121 ETH. The company’s aggressive approach to ETH accumulation has positioned it as one of the largest corporate holders of Ethereum. Its moves reflect a structured strategy aimed at establishing a strong Ethereum treasury.
Stock Price Rises with Institutional Interest
SharpLink’s Ethereum purchases triggered a sharp response in the stock market. The SBET stock closed Friday with a 17.5% gain, bringing its weekly performance to a 63% increase. Daily trading volume surged to $53 million, indicating growing interest from institutional and retail investors.
The price surge aligns with investor confidence in SharpLink’s long-term ETH-focused treasury plan. Market participants appear to recognize the company’s intention to treat Ethereum as a core financial asset. SharpLink’s structured acquisition strategy also shows that the firm views crypto holdings as a balance sheet strength.
Other Firms Join Ethereum Treasury Expansion
SharpLink's bold strategy has started influencing other Nasdaq-listed companies. GameSquare announced a $100 million Ethereum treasury plan earlier this week. While SharpLink leads in actual ETH holdings, competitors are beginning to explore similar paths to build crypto-backed reserves.
BlackRock has also entered the space through its iShares Ethereum ETF (ETHA). This week, ETHA recorded $761 million in inflows and now holds over 2.045 million ETH. On Friday alone, the ETF saw $137 million in inflows and traded over $1 billion in daily volume.
Ethereum Market Reacts to Rising Institutional Demand
The growing interest in ETH treasuries comes amid a broader bullish sentiment in the Ethereum market. ETH price gained 17.55% this week and hovered near the $3,000 resistance. ETH futures open interest has surged to $41 billion, suggesting rising expectations for price continuation.
Institutional accumulation led by SharpLink signals a shift in how public firms approach Ethereum. With large purchases and direct market deals, these firms are laying the groundwork for a treasury model that could reshape corporate crypto adoption.
