SharpLink Gaming Reclaims Crown as Largest Public Ethereum Whale with $258.9M Mega-Purchase
Game over for competitors—SharpLink just went all-in on ETH.
The gaming giant's latest crypto move screams confidence (or desperation—take your pick).
Why this matters
When a publicly traded company drops a quarter-billion on Ethereum, it's either a genius hedge against inflation... or a Hail Mary for relevance. Bonus points for doing it while Wall Street still pretends not to check crypto prices during meetings.
The big number
$258.9 million—enough to make even Bitcoin maximalists glance at the ETH chart.
Bottom line
SharpLink's betting big on Ethereum's future. Whether this is visionary or just another corporate crypto fad depends entirely on whether ETH pumps... or dumps.
Ark Invest bought 4.4 million shares of BitMine
On Monday, ARK Invest purchased 4.4 million BitMine shares (BMNR) in a deal worth almost $175 million. It came after billionaire Peter Thiel picked up 5.09 million shares of BMNR in the previous week, giving him a stake of 9%.
At the same time, BitMine’s stock exploded, jumping over 700% in July, data from TradingView shows. The shares momentarily climbed above $140 on 3rd July before closing at $39.60 on Monday.
SharpLink’s own stock (SBET) has also risen, though more modestly. It has gained about 130 percent over July, ending Monday around $26 per share.
Ethereum ETFs attract $296 million in daily inflows
Meanwhile, the broader crypto ETFs have seen a shift of funds. Spot bitcoin ETFs broke a 12‑day streak of net inflows, posting outflows of $131.35 million on Monday. Ark & 21Shares’ ARKB led the redemptions with $77.46 million withdrawn.
Major players, including Fidelity, Grayscale, VanEck, and Bitwise, also saw net outflows. BlackRock’s IBIT, the biggest BTC ETF by assets, reported no change, alongside six other funds.
This was the first day of net outflow for Bitcoin ETFs since July 1, a period that had seen $6.12 billion pour in.
In contrast, Ethereum‑based ETFs continued their inflow streak to 12 consecutive days, drawing $296.6 million on Monday alone. Fidelity’s FETH topped the list with $126.93 million in new money, followed by $102 million into BlackRock’s ETHA. Grayscale’s Mini Ethereum Trust and Bitwise’s ETHW also registered net inflows.
These Ether‑focused funds have now amassed $3.53 billion over their 12‑day run, marking some of the strongest early demand since their launch on July 24.
Analyst Min Jung of Presto Research said the data point to a “familiar rotation” from Bitcoin into Ethereum, often a prelude to broader activity in other tokens. “Bitcoin has rallied significantly this year,” Jung noted, “and for investors who feel they’ve ‘missed’ the BTC trade or are looking for the next opportunity, Ethereum is becoming the natural next step.”
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