SharpLink Gaming has strategically positioned itself among major institutional Ethereum holders through an acquisition of over 37,000 ETH worth approximately $112 million. The purchase was executed primarily via over-the-counter transactions, including transfers facilitated by Galaxy Digital’s trading desk.
In a significant corporate development, Ethereum co-founder Joseph Lubin has joined SharpLink Gaming. His appointment reinforces the company’s commitment to Ethereum’s ecosystem and decentralization principles amid its strategic shift toward cryptocurrency treasury management.
The market responded positively to SharpLink’s treasury allocation, with company shares surging 17.5% in a single trading session and accumulating gains exceeding 70% over the past week. Concurrently, Ethereum’s price rebounded above the $3,000 threshold to reach a five-month high, though it continues to trail Bitcoin’s year-to-date performance.
Industry experts suggest SharpLink’s treasury strategy may indicate an emerging institutional trend favoring cryptocurrency diversification beyond traditional corporate reserves. This approach highlights expanding corporate confidence in blockchain-based assets for long-term treasury management.