In the last nine days, SharpLink has aggressively purchased Ether worth 515 million dollars according to Lookonchain data. This wave of purchases follows their previous announcement of holding over 280,000 ETH, almost all in staking.
As a result, it has already generated 415 ETH in staking rewards, valued at around 1.49 million dollars. The company's rapid accumulation has made it the largest corporate holder of Ethereum, surpassing even the Ethereum Foundation.
Additionally, SharpLink revealed in a recent regulatory filing that it raised its planned stock sale from 1 billion to 6 billion dollars. A large portion of these funds will be directly allocated to acquiring more Ether.
Consequently, if the entire amount were used to buy ETH at the current price of 3,617 dollars, SharpLink could potentially control about 1.38% of the total circulating supply of ETH.
SharpLink emphasized that it would use part of the funds for operational needs. These include working capital, marketing, and general corporate expenses. Nevertheless, its strong push development plan in ETH stands out as the main point.
The company's goal of eventually owning 1 million ETH suggests a long-term vision focused on blockchain-based assets. Galaxy Research noted that this shift in holdings could act as a positive catalyst for the market. Such a strong corporate vote of confidence in Ethereum could influence other institutions to reconsider their own exposure to cryptocurrencies.