SharpLink added 12207 ETH worth over $30 million to its treasury between June 16 and June 20.
The firm placed all of its Ethereum into staking platforms and earned 120 ETH in rewards since June 2.
SharpLink now holds 188478 ETH making it one of the largest corporate Ethereum holders after the Ethereum Foundation.
SharpLink Gaming added over $30 million in Ethereum to its treasury between June 16 and June 20. The company acquired 12,207 ETH at an average price of $2,513. This pushed its total ETH holdings to 188,478, now worth about $461 million.
https://twitter.com/0xWhale_tito/status/1937728255361954199
The move comes weeks after its initial ETH acquisition of 176,270 ETH for $463 million. SharpLink is now among the largest corporate holders of Ethereum. Only the Ethereum Foundation holds more, with over 213,000 ETH according to Arkham data.
ETH Used in Staking and DeFi Protocols
SharpLink has committed all its ETH holdings to staking platforms. The firm earned 120 ETH in staking rewards since June 2. This strategy sets it apart from companies that simply hold crypto without deploying it.
By engaging in staking and DeFi protocols, the firm seeks returns on its treasury. The ETH-per-share growth rate stands at 18.97%. This shows active use of crypto assets to generate yield rather than passive holding.
Stock Market Activity and Share Sale
SharpLink sold over 2.5 million shares through its at-the-market program. This raised $27.7 million in net proceeds. The company directed these funds toward its ETH acquisition during the June 16–20 purchase window.
Shares in SharpLink rose 11% to $10.02 following the announcement. However, they remain down by 72% over the past month. This drop followed an SEC S-3 filing that some investors misread. They believed insiders were dumping shares, which led to a heavy selloff.
Crypto Treasury Strategy Gains Momentum
The firm’s treasury model reflects a broader trend among public companies. These firms are turning to crypto assets to diversify their balance sheets. SharpLink's strategy mirrors Bitcoin-focused firms, but with a focus on Ethereum.
Unlike others, SharpLink integrates blockchain use through staking and protocol-level activity. This approach reflects a shift in how firms interact with digital assets. Instead of just storing crypto, companies are exploring yield-generating activities.
ETH Market Moves as Ceasefire Impacts Prices
Ethereum’s market price rose 0.55% over the last 24 hours. This followed news of a ceasefire agreement between Iran and Israel. ETH traded at $2,428, slightly below SharpLink’s average acquisition cost.
The company continues to build its ETH position despite market volatility. SharpLink appears committed to long-term engagement with Ethereum and related technologies.
