SharpLink’s ETH Holdings Approached 2 Billion Dollars: All Ethereums Are Staked

Digital asset investment company SharpLink continues its Ethereum accumulation strategy without slowing down. With the recent purchases, the company's total ETH holdings have reached 521,939, representing a value of approximately 1.91 billion dollars at current prices.

SharpLink purchased 83,562 ETH at an average price of 3,634 dollars between July 28 and August 3. This purchase, valued at 264.5 million dollars, significantly increased the amount of ETH on the company's balance sheet.

All ETHs Are Staked: Over 3.3 Million Dollars in Income

SharpLink is earning passive income by staking all its ETH through Ethereum's proof of stake (PoS) mechanism. According to the company's statement, it has earned staking rewards worth 929 ETH (approximately 3.3 million dollars) to date.

The company that uses a metric called "ETH concentration" to measure the success of its investments defines this metric as the amount of ETH per share in circulation. This ratio is currently at 3.66 and has increased by 83% since SharpLink began its ETH strategy.

The ETH Accumulation Race Heats Up

SharpLink became the largest Ethereum investor among publicly traded companies with its first major ETH acquisition of 463 million dollars on June 13. However, this leadership was short-lived.

The competing company BitMine Immersion Technologies surpassed with its acquisition of 208,137 ETH on August 5, increasing its total assets to 833,137 ETH. This corresponds to a value of over approximately 3 billion dollars, placing BitMine at the top in terms of Ethereum assets.

Among other significant institutional Ethereum holders:

Ether Machine: 345,000 ETH (approximately 1.27 billion dollars)

Ethereum Foundation: 232,000 ETH (approximately 855 million dollars)

PulseChain: 166,300 ETH (approximately 611 million dollars)

Large ETH Acquisition Among ETF Exits

SharpLink's recent purchase coincided with a period of record outflows from Ethereum-based spot ETFs. According to data released on August 4, there was a net outflow of 465 million dollars from Ethereum ETFs in one day. This was the highest outflow figure seen since the funds were launched.

The largest outflow occurred from BlackRock’s iShares Ethereum Trust (ETHA) fund, with approximately 375 million dollars. In second place was Fidelity’s Ethereum Fund (FETH), which recorded an outflow of 55.1 million dollars.