SharpLink now holds over 285K ETH worth $871M and earns staking rewards, signaling a bold long-term bet on Ethereum’s future.
SharpLink's ETH treasury move, backed by Joseph Lubin, shows rising corporate interest in crypto-native financial strategies.
While investors worry about risks, SharpLink’s ETH concentration metric boosts transparency and trust in its Ethereum-heavy strategy.
SharpLink Gaming has officially become the largest corporate holder of Ethereum (ETH), now controlling over 285,000 ETH worth nearly $871 million. The company recently added another 5,188 ETH—valued at $15.76 million—between July 7 and July 13. This builds on its earlier purchase of 74,656 ETH for around $213 million at an average price of $2,852 per token. Currently, Ethereum trades at $3,115, a 5.6% increase in the past 24 hours.
This aggressive accumulation began in late May when SharpLink pivoted to Ethereum as its core treasury asset. The firm also nominated Ethereum co-founder Joseph Lubin as chairman of its board. Lubin emphasized the importance of ETH treasuries for ecosystem growth. He believes demand must increase to balance the circulating supply of Ethereum.
Staking Rewards and Strategic Goals
So far, SharpLink has staked 99.7% of its ETH holdings. Since June 2, the company has earned 415 ETH in rewards. Notably, 94 ETH came in just the last week. The firm also introduced a new metric called “ETH Concentration” to track its holdings. As of July 13, this figure hit 2.46 ETH per 1,000 diluted shares, up 23% from 2.00 ETH in June.
Moreover, SharpLink follows an equity-based fundraising model similar to other Ethereum-focused firms like BitMine Immersion and Bit Digital. These companies aim to become the largest public ETH holders globally. Consequently, SharpLink’s treasury plan could influence other corporations exploring crypto-native strategies.
Risks and Investor Outlook
However, this approach isn’t without risks. The company’s strong ETH focus raises exposure concerns. A steep drop in ETH’s price could affect SharpLink’s balance sheet. Additionally, frequent share issuance to fund ETH buys may dilute shareholder equity and influence.
Besides, some investors question the long-term sustainability of tying financial health to a volatile asset class. Even so, SharpLink’s transparency and real-time ETH concentration updates build trust with investors. The commitment to Ethereum aligns with Lubin’s broader vision of reshaping financial infrastructure.
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