SharpLink Gaming has significantly bolstered its Ethereum reserves with a $53.9 million purchase of 15,822 ETH, continuing its aggressive accumulation strategy. The two-day buying spree totaling 30,755 ETH brings the company’s holdings to 480,031 ETH, valued at approximately $1.65 billion, underscoring strong institutional confidence in Ethereum as a treasury reserve asset.
As part of its digital asset focus, the company strengthened leadership by appointing Joseph Chalom, former BlackRock digital assets strategy head, as Co-CEO. This move complements Ethereum co-founder Joseph Lubin’s role as chairman, further signaling SharpLink’s strategic commitment to blockchain integration and institutional-grade asset management.
Market analysts caution that SharpLink’s stock may carry a premium valuation compared to underlying ETH assets. Some suggest direct Ethereum acquisitions or established ETH ETFs as alternative investment avenues to avoid potential overexposure to the company’s equity valuation.
The accumulation briefly positioned SharpLink as the largest corporate ETH holder before being surpassed by Bitmine Immersion Technologies, which currently maintains a treasury of 625,000 ETH. This corporate holding competition highlights Ethereum’s growing acceptance as a strategic reserve among institutional players.