SharpLink Gaming has made a groundbreaking move by acquiring 10,000 Ethereum (ETH) directly from the Ethereum Foundation in an over-the-counter (OTC) deal. This significant transaction, valued at over $25 million, has sent SharpLink Gaming’s stock soaring and solidified its position as a major institutional player in the crypto space.
SharpLink Gaming’s Bold Ethereum Acquisition
SharpLink Gaming, Inc. (Nasdaq: SBET) announced on July 11, 2025, the completion of a landmark deal to purchase 10,000 ETH from the Ethereum Foundation. The transaction, finalized on July 10, 2025, was executed at an average price of $2,572.37 per ETH, totaling approximately $25.7 million. This strategic acquisition significantly expands SharpLink’s ETH holdings, positioning it as one of the largest corporate holders of Ethereum globally.
- Key Takeaways:
- SharpLink Gaming acquired 10,000 ETH from the Ethereum Foundation.
- The OTC deal was valued at over $25 million, with an average price of $2,572.37 per ETH.
- This move makes SharpLink Gaming a leading corporate holder of Ethereum.
Market Reaction and Stock Surge
The announcement of the ETH purchase triggered an immediate and positive response from the market. SharpLink Gaming’s stock price surged by 14.07% to $21.08 by 10:49 AM EDT on July 11, 2025, and at one point saw a 50% increase, reflecting strong investor confidence in the company’s blockchain-centric strategy. The broader cryptocurrency market also experienced a rally, with Ether briefly trading above $3,000, driven by significant inflows into crypto exchange-traded funds (ETFs).
- Stock Performance:
- SharpLink Gaming’s stock (SBET) surged by 14.07% to $21.08.
- The stock saw an initial surge of up to 50% following the news.
Strategic Vision and Institutional Adoption
SharpLink Gaming’s acquisition is not merely a financial investment but a strategic move to integrate deeper into the Ethereum ecosystem. The company views Ethereum as its primary treasury reserve asset and plans to actively acquire, stake, and restake ETH to support decentralization and DeFi infrastructure. Joseph Lubin, co-founder of Ethereum and Chairman of SharpLink, emphasized the importance of ETH treasuries for the development of the Ethereum ecosystem and the company’s commitment to supporting the network’s long-term strength and decentralization mission.
- Strategic Implications:
- Ethereum is now SharpLink’s primary treasury reserve asset.
- The company plans to stake and restake ETH to support the ecosystem.
- Joseph Lubin’s involvement underscores the strategic alignment with Ethereum’s principles.
The Role of the Ethereum Foundation
The Ethereum Foundation described the sale as part of its routine treasury management, emphasizing transparency and strategic asset allocation. The OTC nature of the transaction helped avoid immediate price volatility in ETH markets, demonstrating a measured approach to large-scale asset acquisition. This collaboration highlights a growing trend of institutional players recognizing Ethereum’s technological and financial potential, particularly in decentralized finance (DeFi) and staking ecosystems.
Sources
- SharpLink Gaming Buys 10,000 ETH for 50% Stock Surge, AInvest.
- SharpLink Gaming Buys $25 Million in Ether as Price Surges 16%, AInvest.
- Soars 14% After Bold 10,000 Ethereum Deal with Ethereum Foundation, CoinCentral.
- Sharplink Gaming buys 10,000 ETH directly from the Ethereum Foundation, Cryptopolitan.
