SharpLink’s ETH Buying Spree Hits 310,000 — Here’s Why the Market Can’t Look Away

SharpLink just crossed a jaw-dropping 310,000 ETH in cumulative purchases—fueling speculation about what’s behind the aggressive accumulation.

Is this institutional FOMO or a calculated power play?

The Whale Moves No One Saw Coming

While retail traders were busy chasing memecoins, SharpLink quietly became one of Ethereum’s biggest holders. The 310,000 ETH milestone suggests either extreme conviction… or someone knows something the rest of us don’t.

Follow the Smart Money (Or the Desperate Money?)

With ETH still trading below its 2021 ATH, some see this as a classic ‘buy when there’s blood in the streets’ move. Others whisper about hedge funds recycling old tricks—pump reserves now, spin a narrative later.

One thing’s certain: When wallets this big move, the market ripples. Whether those ripples turn into tidal waves depends on what SharpLink does next—and whether the ‘greater fools’ theory holds up yet again.

SharpLink Buys 10K ETH Directly From Ethereum Foundation

In one of the most notable transactions, the company directly acquired 10,000 ETH from the Ethereum Foundation.

SharpLink(@SharpLinkGaming) bought another 6,377 $ETH($19.56M) today.

In the past 7 days, they've accumulated 91,330 $ETH($275M).https://t.co/8pOfvpDWym pic.twitter.com/NGepBvYcP4

Since late May, SharpLink has been accumulating Ethereum in large batches, often moving funds on-chain through major centralized exchanges and over-the-counter addresses. This deliberate strategy suggests a long-term view, possibly tied to expectations of major price moves or upcoming upgrades to the Ethereum protocol.

The company’s pivot into Ethereum marks a strategic shift. While it remains focused on its core business in sports betting and iGaming, SharpLink is now using ETH as its primary treasury reserve asset. That decision came after a $425m private placement led by Consensys, with participation from Pantera Capital, Electric Capital and ParaFi Capital. The MOVE was first announced on May 27, 2025.

SharpLink Nears Ethereum Foundation in Holdings Size

CEO Rob Phythian has framed the acquisitions as a defining moment for public company engagement with crypto. He said over 99% of SharpLink’s Ethereum holdings are staked or restaked in protocols to generate yield while supporting the security of the Ethereum network.

Ethereum co-founder and Consensys CEO Joseph Lubin, who now chairs SharpLink’s board, has described the firm’s strategy as a public-market proxy for Ethereum exposure, similar to MicroStrategy’s approach with Bitcoin. Lubin emphasized Ethereum’s importance for decentralized applications and digital commerce, pointing to favorable U.S. legislation as a major tailwind.

With its daily buying spree showing no signs of slowing, SharpLink could soon overtake the Ethereum Foundation itself, which currently holds around $725m worth of ETH. The company’s positioning reflects a broader trend, as corporations increasingly look beyond Bitcoin and toward Ethereum as a programmable, yield-bearing asset.

Investors are taking notice. SharpLink’s stock was up more than 14% in pre-market trading on Wednesday.