SharpLink Gaming (SBET) Soars 7% After Bold Ethereum Move: 188K ETH Treasury Signals Crypto Gambit

SharpLink Gaming just made Wall Street do a double-take—its stock rocketed 7% as the company doubled down on crypto with a jaw-dropping 188,000 ETH treasury stash. Forget bonds—this is the new corporate liquidity play.

The Ethereum Endgame

While traditional finance still debates Proof-of-Stake, SharpLink's betting big on ETH as a reserve asset. That treasury? Worth roughly $470 million at today's prices—enough to make even MicroStrategy raise an eyebrow.

Why TradFi Should Sweat

The move exposes a brutal truth: public companies now see crypto treasuries as strategic weapons. Meanwhile, hedge funds charging 2-and-20 are stuck explaining why they missed the rally—again.

SharpLink's playbook? Simple. Buy the dip, hodl, and let the suits try to spin this as 'volatile' while their own cash positions bleed value. Game on.

TLDR

• SharpLink just staked 188K ETH—the biggest public ETH holder.
• $27.7M in stock sales fueled its Ethereum buying spree.
• Staking already earned 120 ETH in just three weeks.
• ETH per share jumped 18.97% since June 2.
• iGaming meets crypto—SharpLink goes full Web3.

SharpLink Gaming, Inc. (SBET) shares recorded a 7.33% gain, closing at $9.66 with brief post-market activity lifting the price to $9.70. The stock rallied early in the day and then stabilized, reflecting strong morning momentum followed by a period of consolidation.

SharpLink Gaming, Inc. (SBET)

Capital Raise Fuels ETH Accumulation

SharpLink confirmed a significant ethereum acquisition, expanding its holdings to 188,478 ETH after purchasing an additional 12,207 ETH. The company spent $30.67 million, averaging $2,513 per ETH during the week of June 16 to June 20. The ETH acquisition aligns with the firm’s shift towards blockchain-based treasury management.

The entire ETH treasury has been deployed into staking platforms, which have already yielded 120 ETH since June 2. This milestone marked the formal launch of the company’s ETH-focused treasury strategy. The ETH per share metric has since grown by 18.97%, reinforcing the financial impact of the pivot.

ATM funding drives Ethereum growth strategy

SharpLink also raised approximately $27.7 million in net proceeds through its At-The-Market (ATM) equity program. The capital came from selling 2,547,180 shares of common stock during the same week of the ETH acquisition. The company allocated most of these proceeds to increase its Ethereum reserves.

This funding mechanism played a key role in facilitating the aggressive treasury expansion without needing external financing. By utilizing market liquidity, the company retained operational flexibility while scaling its digital asset portfolio. The ATM strategy has become a central pillar in supporting SharpLink’s asset management approach.

The firm continues integrating blockchain into its broader financial infrastructure while enhancing shareholder metrics. The updated ETH holding figure establishes SharpLink as the largest publicly listed Ethereum holder. This reinforces its identity as a hybrid entity blending iGaming operations with blockchain finance.

Digital asset strategy positions SharpLink for blockchain-led growth

SharpLink’s recent activity reflects a deliberate transition toward on-chain value generation. The staking deployment supports passive income while reinforcing Ethereum’s central role in its treasury model. This setup aligns with ongoing shifts toward decentralized financial tools across public markets.

The firm plans to provide regular updates on digital asset metrics and their impact on shareholder value. This includes staking rewards, ETH per share data, and treasury utilization updates. The company views blockchain integration as an engine for long-term growth rather than a speculative play.

SharpLink continues advancing its blockchain strategy while reinforcing its market positioning. The company remains focused on building ETH-backed treasury value while aligning with Web3 adoption trends. This approach distinguishes it from traditional iGaming firms and signals evolving priorities across listed tech entities.