💰 $200M Ethereum Bet: SharpLink Goes All-In on ETH Growth

SharpLink Gaming is raising $200 million to expand its Ethereum treasury, signaling strong confidence in ETH’s long-term potential. The company views ETH as both programmable money and a yield-generating asset through staking. This move aligns SharpLink with a growing number of firms reshaping capital strategies around blockchain-native assets.

Why SharpLink is Betting Big on Ethereum

In an announcement on X, SharpLink confirmed it raised $200M via a direct offering at $19.50 per share with four global institutional investors. The capital will be strategically deployed to build its ETH reserves, which are expected to reach nearly $2 billion, potentially making SharpLink one of the largest corporate ETH holders.

The firm’s strategy involves accumulating ETH, staking it for consistent on-chain returns, and increasing ETH-per-share for long-term investors. SharpLink aims to capitalize on Ethereum’s rise as the backbone for global tokenized asset financing.

Vitalik Buterin recently highlighted the growing importance of ETH treasuries—not just for storage but also for liquidity and utility. Meanwhile, PulseChain Sacrifice Wallet has climbed to the 5th largest ETH holder with 171,054 ETH, after previously being the largest DAI holder across chains.

Ethereum’s on-chain activity is heating up again, with Etherscan logging 1.87M transactions on August 6—close to the all-time high of 1.96M in January 2024. Validator exit queues have dropped to 443,164 ETH ($1.612B), with an average withdrawal wait time of 7 days and 17 hours.

Additionally, the UK has lifted restrictions on crypto exchange-traded notes (cETNs) for retail investors, which could further boost Ethereum’s performance.

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