SharpLink Gaming has significantly bolstered its Ethereum exposure by acquiring liquid staking tokens (lsETH) worth $2 million. This latest purchase increases the company’s total Ethereum holdings, measured as Ether staked equivalents, to over 165,000 ETH.
The acquisition highlights SharpLink Gaming’s strategy of utilizing liquid staking tokens to earn Ethereum staking rewards while preserving liquidity. This approach differs from locking assets via traditional staking methods.
The announcement drove SharpLink Gaming’s stock price up by a sharp 28%, reaching $11.98 per share. This market reaction signals investor confidence in the company’s crypto asset strategy.
The move aligns with increasing institutional interest in Ethereum-based liquid staking and decentralized finance (DeFi) opportunities. Beyond its dominant lsETH stake, valued at approximately $458 million, SharpLink Gaming maintains smaller positions in other cryptocurrencies including DAI, CROAK, BNB, and a small amount of ETH itself.