Coinbase Facilitates SharpLink Gaming’s $17.45M Ethereum Purchase, Boosting Holdings to $493M

SharpLink Gaming, a Minnesota-based marketing firm, has significantly increased its Ethereum (ETH) holdings with a $17.45 million purchase of 4,904 ETH via Coinbase Prime. This strategic acquisition elevates the company's total ETH holdings to 157,140, valued at approximately $493 million, with an average entry price of $3,136 per ETH. The move underscores growing institutional confidence in Ethereum's long-term value proposition, as SharpLink has been aggressively accumulating ETH since July 1. This development highlights Coinbase Prime's role as a trusted platform for institutional cryptocurrency transactions and reflects broader bullish sentiment in the digital asset market.

SharpLink Gaming Boosts Ethereum Holdings to $493M with $17.45M Purchase

SharpLink Gaming, a Minnesota-based marketing firm, has deepened its commitment to ethereum with a $17.45 million purchase of 4,904 ETH. The acquisition, executed via Coinbase Prime, brings the company's total holdings to 157,140 ETH—valued at $493 million at an average entry price of $3,136.

Since July 1, SharpLink has aggressively accumulated ETH, signaling institutional confidence in the altcoin's long-term value proposition. Lookonchain data reveals the firm's consistent accumulation strategy, with this latest transaction reinforcing Ethereum's appeal as a Core institutional asset.

Block Joins S&P 500, Marking a Milestone for Crypto in Traditional Finance

Block, the fintech firm formerly known as Square, has been added to the S&P 500, replacing Hess Corporation following its acquisition by Chevron. The move, confirmed by S&P Dow Jones Indices on July 18, underscores Block's evolution from a payment services provider to a key player in cryptocurrency infrastructure.

The company's integration of Bitcoin through Cash App and its corporate treasury has positioned it at the forefront of digital asset adoption. Block now becomes the second crypto-aligned firm in the S&P 500 after Coinbase, further bridging the gap between traditional finance and the emerging crypto economy.

Inclusion in the benchmark index reflects Block's compliance with stringent criteria, including profitability, market capitalization, and liquidity. The development signals growing institutional acceptance of cryptocurrency, with Block joining Coinbase and Tesla as S&P 500 constituents holding direct bitcoin exposure.