One of the largest institutional holders of Ethereum, SharpLink is set to raise $200 million to boost its ETH strategic reserve. The firm announced the development on Thursday through an official blog post.
While giving details on the fundraising effort, SharpLink disclosed how it entered securities purchase agreements with four global institutional investors. According to the statement, the organization offered its shares at $19.50 per share under Nasdaq rules.
More so, the proceeds as per SharpLink will push its ETH reserve beyond $2 billion in value. In reaction to the latest development, Joseph Chalom, the co-chief executive officer of SharpLink said the move emanated from the focus of being the leading ETH Treasury.
Chalom went on to thank other institutional investors who supported SharpLink in the funding exercise. In July 2025, Binbits reported that the company spent about $156 million to add more Ethereum to its reserve.
Then, the acquisition positioned the company as the largest corporate holder of the second-largest cryptocurrency by market cap. Also, on August 5, SharpLink spent another $264.5 million to acquire about 83,562 Ethereum to bring its total holdings to 521,939 ETH.
Worth around $1.9 billion, SharpLink as part of its strategy has committed its ETH reserve to the native staking protocol of Ethereum, earning about 929 ETH in return.
ETH Treasury gaining traction among corporate investors as BitMine overtakes SharpLink
However, less than three days ago, BitMine Immersion Technology chaired by Tom Lee dislodged SharpLink to become the largest corporate investor of Ethereum.
Recall that last month, BitMine unveiled its Ethereum reserve strategy with the focus on accumulating 5% of the total ETH in circulation. In a recent transaction, the company bought 208,000 ETH which has seen its Ethereum reserve skyrocket in value to $2.9 billion.
In addition to making history as the largest corporate holder of ETH, BitMine also became the third company with the biggest cryptocurrency portfolio. By that, the firm is only behind the likes of Strategy and Mara as crypto assets continue to gain interest from institutional investors.
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