365Crypto
SharpLink Gaming, a sports betting company, bought 176,271 Ether (ETH) for $463 million. This makes them the largest publicly traded company holding Ethereum.
They raised money through private sales and stock offerings, paying an average price of $2,626 per ETH.
Most of their ETH is now used in staking platforms. This helps secure the Ethereum network and earns rewards.
SharpLink’s CEO says this move marks a big step for digital asset adoption by public companies. ETH is now their main treasury asset, like how MicroStrategy uses Bitcoin.
Ethereum co-founder Joseph Lubin praised SharpLink for this bold strategy, saying it helps Ethereum’s security and grows their ETH holdings.
However, SharpLink is not the biggest ETH holder overall. The Ethereum Foundation has more than 214,000 ETH.
Big crypto ETFs like BlackRock’s iShares Ethereum Trust hold even more — about 1.7 million ETH for their clients.
SharpLink’s share price jumped over 400% after the purchase announcement but then dropped sharply due to confusion about share sales. The chairman clarified it was normal regulatory paperwork, not insiders selling.
This trend shows more companies putting crypto at the center of their treasury, but with Ether leading instead of Bitcoin.
Footnotes:
Ether (ETH): The native cryptocurrency of the Ethereum blockchain.
Staking: Locking up cryptocurrency to help run a blockchain network and earn rewards.
Treasury asset: A company’s reserve or savings held in valuable assets.
