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

SharpLink Gaming is raising $200 million to build its Ethereum treasury. SharpLink is banking big on ETH's long-term potential as staking strengthens its status as programmable money and a yield-bearing asset. The fundraising places the business among a growing number of companies rewriting capital strategies around blockchain-native assets.

Why SharpLink is all-in on Ethereum

SharpLink Gaming said on X that it has raised $200 million via a direct offering at $19.50 per share with four worldwide institutional investors.

Company says funds will be judiciously invested to build ETH treasury. SharpLink anticipates its ETH reserves to approach $2 billion after deployment, making it one of the most ETH-heavy corporate treasuries.

The firm accumulates ETH, stakes it for sustainable on-chain return, and grows ETH-per-share for long-term owners. SharpLink is designed to capitalize on Ethereum's rise as the global tokenized asset financing infrastructure.

Vitalik Buterin recently noted in the article that ETH treasuries are becoming more important both a storage of ETH and a way to access it.

The Bankless team, who instantly hailed mainstream recognition, missed the irony PulseChain Sacrifice Wallet has risen to 5th in crypto ETH holdings with 171,054 ETH. Before the money converted into ETH, the wallet was the biggest DAI holder across chains.

Ethereum on-chain momentum is rising again as important players raise funds and boost the ETH treasury. On August 6, Etherscan reported 1.87 million transactions, close to the all-time record of 1.96 million established in January 2024.

According to validator queue statistics, the ETH pOs departure queue has reduced to 443,164 ETH, valued $1.612 billion. The average departure wait time is currently 7 days and 17 hours after the drop.

UK officials lifted the restriction on crypto exchange-traded notes (cETNs) for ordinary investors, which may boost Ethereum's performance.

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