#MarketUpdate #Ethereum

Ethereum $ETH prices are showing strong bullish signals following Nasdaq-listed SharpLink Gaming’s announcement to establish a $425 million Ethereum treasury.

SharpLink revealed plans to raise capital through a private investment in public equity (PIPE), purchasing approximately 69.1 million shares at $6.15 each. This move makes SharpLink the first Nasdaq-listed company to build a strategic Ethereum reserve, similar to MicroStrategy’s successful Bitcoin treasury strategy that generated over $8.2 billion in gains in 2025.

Former Ethereum developer Eric Conner highlighted that SharpLink’s move could create a “public ETH proxy” allowing funds that can’t hold tokens directly to gain exposure. The acquisition of around 120,000 ETH—likely to be staked—could lead to “supply compression,” reducing circulating supply and potentially driving up ETH prices. This strategy also positions ETH as a “digital reserve collateral” on corporate balance sheets.

Following SharpLink’s announcement, Ethereum futures markets surged. Open interest (OI) hit a new all-time high of $36.1 billion, increasing $3.5 billion in 24 hours.