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Nasdaq-listed company Sharplink Gaming announced that it purchased $463 million worth of Etheruem ($ETH).
According to the official statement, the company purchased 167,000 $ETH worth $462.947 million at an average purchase price of $2,626 per Ethereum.
This acquisition makes Sharplink Gaming the largest public $ETH holder in the world and the second largest holder after the Ethereum Foundation.
According to the statement, as of June 13, 2025, more than 95% of SharpLink’s $ETH holdings are staked or used in liquid staking.
This provides local returns while contributing to Ethereum's network security.
The company raised $79 million through a stock sale to support the acquisition and adopted $ETH as its primary treasury reserve asset.
“This is a milestone for SharpLink and the adoption of digital assets by public companies. We believe Ethereum is a foundational infrastructure for the future of digital commerce and decentralized applications. Our decision to make $ETH our primary treasury reserve asset reflects our deep belief in its role as programmable, yield-generating digital capital,” said Rob Phythian, Chief Executive Officer of SharpLink Gaming.
SharpLink Gaming President and Ethereum Co-Founder Joseph Lubin commented on the $ETH purchase:
“SharpLink’s bold $ETH strategy represents a significant milestone and innovative approach to institutional adoption of Ethereum. It comes at a unique time as the U.S. Congress moves toward passing significant stablecoin and digital asset market structure legislation.
Hopefully, such legislation will act as a catalyst for the adoption of Ethereum technology, a decentralized network that can serve many functions in participating in the global economy.
“By allocating significant capital to $ETH and distributing it across network activities such as staking, SharpLink contributes to the long-term security and trust features of Ethereum while also earning additional $ETH for this work.”
*This is not investment advice.