SharpLink has dramatically expanded its Ethereum treasury position, accumulating 521,939 ETH worth $1.91 billion through strategic acquisitions and staking operations.
Between July 28 and August 3, the company acquired an additional 83,562 ETH, valued at $264.5 million. This represents one of the largest single-week ETH accumulations by any institutional holder, raising SharpLink’s ETH-per-share metric by 83% to 3.66.
The aggressive accumulation coincides with historic outflows from spot Ether exchange-traded funds, which saw a net withdrawal of $465 million this week. BlackRock’s iShares Ethereum Trust accounted for the largest outflow at nearly $375 million, indicating shifting investor preferences toward direct staking exposure.
SharpLink has generated 929 ETH ($3.3 million) in staking rewards through Ethereum’s proof-of-stake mechanism. While SharpLink now holds over half a million staked ETH, BitMine Immersion Technologies maintains the largest institutional ETH treasury position with 833,137 ETH valued above $3 billion.
The contrasting trends highlight institutional divergence in Ethereum exposure strategies, with companies building direct treasury positions while traditional ETF products face significant divestment pressure.