SharpLink Gaming Just Stacked 20,279 ETH – Here’s Why It Matters
SharpLink Gaming just made a power move—loading 20,279 ETH into its treasury. That’s not just a bet on crypto; it’s a middle finger to traditional finance’s 'play it safe' rulebook.
Why ETH? Because smart money doesn’t sit in bonds earning 2% while inflation eats its lunch. The gaming giant’s doubling down on blockchain’s most battle-tested altcoin, and Wall Street’s spreadsheet jockeys are scrambling to explain why they didn’t see this coming.
One question remains: Is this a masterstroke or corporate gambling? Either way, it’s more exciting than your bank’s 'high-yield' savings account.
Other big names are also taking interest in Ethereum
In related news, GameSquare Holdings, listed as GAME on Nasdaq, said on Thursday it priced 46,666,667 new shares of common stock for $1.50 each. The offering is expected to raise about $70 million before fees. Most of those funds will go toward growing its own Ethereum stash, the company said in a press release.
Meanwhile, Bitmine announced a $250 million private placement in June to kick off its own ETH treasury strategy. The MOVE included appointing Fundstrat’s Thomas Lee to its board. On Wednesday, tech investor Peter Thiel revealed he had taken a 9.1 percent stake in the firm, Bitmine.
Spot Ethereum exchange‑traded funds also reached a record level of holdings on Thursday. After attracting $726 million in net inflows on Wednesday, the busiest day since these ETFs began trading, firms like Grayscale and BlackRock now manage a combined 4.95 million ETH.
Ethereum is up over 16% in the past 5 days
On Thursday, strong demand drove Ethereum to break $3,400. As of 8:36 a.m. ET, the token was trading at $3,424, up more than 8 percent in a single day. It is trading at a price of $3,410 at press time, and has risen over 16% in the last 5 days.
July has also become the ETFs’ best month yet, with net inflows hitting $2.27 billion so far—the largest monthly total since the funds launched in July 2024. BlackRock’s ETHA fund led Wednesday’s gains with $499 million of new money, SoSoValue reported.
“Ethereum is increasingly being seen as a long‑term institutional asset, not just a trading vehicle,” Rachael Lucas from BTC Markets said. She added that these ETFs collectively hold about 4 percent of Ether’s total market cap.
On social media, Dragonfly data analyst Hildobby noted that if issuers keep up the current pace over the next year, they could absorb an additional 10 percent of Ethereum’s supply.
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