Underlining the growing institutional adoption of cryptocurrencies, SharpLink has become the largest corporate holder of Ethereum. The gaming firm announced on Tuesday via an official blog post.
According to the announcement, the company holds about 280,706 ETH worth $858 million making it the largest institutional holder of the second-largest cryptocurrency. SharpLink is the world’s largest publicly traded firm to adopt Ethereum as its primary treasury reserve asset.
SharpLink became the largest institutional holder of ETH between July 7 and July 13, 2025, after acquiring 74,656 at an average price of $2,852. The company spent about $156 million on the latest acquisition.
More so, SharpLink established that it funded the process through its At-The-Market facility (“ATM”) by issuing about 24.5 million shares of common stock. The fundraising effort fetched the gaming company about $413 million.
Furthermore, the gaming company still has about $257 million in funds, set aside for more Ethereum acquisitions. However, SharpLink communicated that it will commit 99.7% of its ETH reserve to staking protocols.
Recall that the company announced the strategy early this month in a bid to maximize profits from its ETH treasury. Meanwhile, between July 7 to July 11, 2025, the firm received about 94 ETH as staking rewards.
As revealed, SharpLink has earned about 415 ETH in total from the staking strategy. In the statement, the firm emphasized that it will provide detailed updates on its treasury plan for more transparency.
Growing institutional adoption of Ethereum
As the cryptocurrency sector keeps maturing, institutional investors are flooding into the digital assets space. Like SharpLink, a host of institutional investors have also stockpiled ETH.
On Monday, BitMine Immersion Technologies disclosed that its total Ethereum holdings are currently around 163,142 ETH worth around $480 million. Additionally, Bit Digital, another institutional holder of Ethereum, recently announced that its reserve holds about 100,000 ETH.
Adding to the growing list of corporate Ethereum holders is Blockchain Technology Consensus Solutions (BTCS) raised $62.4 million early this month to increase its reserve to 29,122 ETH.
Side Note on SharpLink Gaming
SharpLink is an online gaming and sports betting company with its headquarters in Minneapolis, Minnesota. The company is managed by a group of experts with expertise in sports media and gaming technology.
Currently, the firm leans towards digital assets by leveraging smart contracts, DeFi protocols, and Web3 innovations. With this approach, SharpLink intends to become an industry leader and reposition the iGaming sector, and transform it into a more dynamic ecosystem.
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