SharpLink Gaming—a Nasdaq-listed firm chaired by Ethereum co-founder Joseph Lubin executed an over-the-counter acquisition of 10,000 ETH directly from the Ethereum Foundation at an average price of $2,572.37 per ETH, totaling approximately $25.7 million. The deal settled on-chain via the Foundation’s multisig on July 10, 2025.
SharpLink has pivoted to making ETH its primary treasury reserve asset, with plans to stake and restake these tokens—effectively removing them from circulation and reinforcing Ethereum’s network health. Lubin characterized the move as "not a trade" but a long-term commitment to Ethereum's mission.
This strategic acquisition marks SharpLink as the first publicly traded company to buy ETH directly from the Foundation, reflecting a significant shift toward institutional adoption. It comes amid rising ETH ETF inflows and a broader renaissance in protocol-native finance.
By aligning treasury strategy with Ethereum’s tokenomics and staking mechanics, SharpLink underscores a new model for corporate participation—supporting ecosystem health while simultaneously securing yield-generating assets.
