SharpLink Gaming has significantly expanded its cryptocurrency portfolio by acquiring 77,210 ETH worth approximately $295 million. This acquisition surpasses Ethereum’s net issuance of 72,795 ETH over the past 30 days, highlighting aggressive accumulation amid rising institutional interest.
The purchase elevates SharpLink’s total Ether holdings to over 438,000 ETH ($1.69 billion), cementing its position as the second-largest corporate holder of Ethereum globally, trailing only BitMine Immersion Technologies.
In a strategic leadership move, the firm appointed Joseph Chalom as co-CEO. Chalom, a former BlackRock executive, brings institutional expertise expected to bolster SharpLink’s global market strategy and competitive positioning within the crypto sector.
Collectively, corporate and institutional entities now control about 6.73% of Ethereum’s total circulating supply – a concentration potentially triggering future supply constraints as adoption grows. SharpLink’s strategy focuses on capitalizing on Ethereum’s staking rewards and ecosystem evolution, with plans to further expand ETH holdings and staking operations.
Market analysts note such large-scale acquisitions could amplify scarcity-driven price appreciation in Ethereum’s market.