Breaking: Sharplink Gaming Secures 10K ETH OTC Deal with Ethereum Foundation in Landmark Move

The crypto world just got a jolt of institutional adrenaline.

Sharplink Gaming—a rising player in blockchain-based entertainment—just locked down a 10,000 ETH over-the-counter (OTC) purchase directly from the Ethereum Foundation. No messy exchanges, no slippage—just a quiet power move that screams 'smart money.'

Why this matters

OTC deals are where the whales play. By bypassing public markets, Sharplink avoids price volatility while the Ethereum Foundation offloads a chunk of its treasury without tanking the spot price. Everybody wins—except maybe retail traders left guessing about the real market depth.

The cynical take

Another day, another crypto insider handshake deal. At least this one didn't involve a Bahamas yacht meeting or a 'community grant' with strings attached.

Watch those wallets—when 10K ETH changes hands silently, someone's about to make a very loud move.

Sharplink sticks to a long-term holding strategy

Lubin explained that Sharplink will stick to a long-term investment vision. The ETH in the treasury will be used for staking and liquid re-staking, removing the supply from circulation, while also securing the Ethereum ecosystem. The company also received criticism that it did not buy ETH on the open market, similar to Strategy (MSTR) buying BTC, but instead relying on an OTC deal with no boost for ETH market prices.

Since Lubin is both a co-founder of Ethereum and part of the Sharplink team, the treasury is expected to be in alignment with the principles of the Ethereum Foundation.

The OTC deal also follows the decision of the Ethereum Foundation to avoid letting its ETH sit idle. At the same time, the deal did not affect the market price. Previously, the Ethereum Foundation sold ETH for operating income, but lately agreed to stake the tokens or use them in lending protocols to tap their value. 

Following the news, SBET grew by over 8.32% for the past 24 hours, to trade at $18.48. After the initial hype, SBET is now growing more gradually as the company realizes its ETH treasury plans. 

Ethereum Foundation still sells some ETH

The Ethereum Foundation sold more ETH just before the token broke out. Recent on-chain data shows a sale of 1,210 ETH for 3.5M USDC. 

A wallet linked to the #EthereumFoundation sold 1,210 $ETH for 3.5M $USDC at an average price of ~$2,890 over the past 6 hours.https://t.co/2srVIybEGt pic.twitter.com/ez1k5Q6uT1

— Lookonchain (@lookonchain) July 11, 2025

Some of the ETH is used to sponsor smaller projects or to cover operating costs. The Foundation still has over 198K ETH in its reserves. 

In addition to the recent sale, the Foundation sent out another 1,000 ETH to the Gnosis Safe Proxy. 

The Foundation itself has sufficient ETH to function as a treasury company, though it still operates as a foundation under Swiss law. For now, it remains to be seen whether the ETH sales will continue or the Foundation will share its reserves with new treasury companies.

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