SharpLink Gaming (SBET) Stock Skyrockets Following $49M Ethereum Purchase—Now Holds More ETH Than Ethereum Foundation

Game-fi meets Wall Street as SharpLink Gaming's $49M ETH bet sends its stock soaring—leaving even Ethereum's own foundation in the dust.

Who needs slot machines when you've got crypto volatility? The esports betting firm just turned a single Ethereum purchase into a market-stunning rally, proving once again that in today's economy, gambling companies make safer crypto custodians than actual foundations.

While traditional investors scramble to decode blockchain balance sheets, SBET shareholders are cashing in—no white paper required.

TLDR

• SharpLink Surges After $49M ETH Buy, Tops Corporate Holders List

• SharpLink Now Largest ETH Holder, Stock Jumps on Crypto Bet

• ETH Push Powers SharpLink Stock Up, Tops Ethereum Foundation

• SharpLink Grabs 198K ETH, Outpaces Rivals in Crypto Holdings

• SharpLink Buys Big in ETH, Becomes Top Public Holder Worldwide

SharpLink Gaming, Inc. (NASDAQ: SBET) closed on July 14 at $23.88, rising 10.30% during regular trading. After-hours trading continued the momentum, pushing the stock up 2.81% to $24.55. The rally followed the company’s strategic ethereum purchase worth nearly $49 million on Sunday.

SharpLink Gaming, Inc. (SBET)

The transaction added 16,370 ETH to SharpLink’s growing crypto treasury, significantly increasing its blockchain exposure. The firm has aggressively expanded its ETH holdings since May, positioning itself as a top corporate holder. This recent acquisition pushed its total reserves to 198,300 ETH, currently valued at over $608 million.

SharpLink’s aggressive entry into Ethereum came as ETH crossed the $3,000 mark, sparking renewed market optimism. The company’s stock outperformed broader market indices following the announcement. This ETH commitment now places SharpLink ahead of the Ethereum Foundation in terms of total ETH reserves.

SharpLink Becomes Largest Corporate Holder of Ethereum

SharpLink Gaming now holds the highest ETH treasury among public companies, totaling both ETH and Liquid Staked ETH (LSETH). According to Arkham Intelligence, the company owns 181,860 LSETH and 16,419 ETH in reserve. Combined, these holdings exceed the Ethereum Foundation’s 197,400 ETH balance.

On Sunday, SharpLink’s wallet received 16,370 ETH valued at $48.7 million from a source linked to Consensys. This followed a 10,000 ETH transfer received Friday from the Ethereum Foundation itself. Blockchain data confirmed the transactions via Etherscan and Arkham’s tracking.

These significant acquisitions underscore a shift in how companies manage digital reserves. SharpLink continues to increase its exposure while using a mix of staked and liquid assets. This positions the company as a long-term participant in the Ethereum ecosystem, not just a passive holder.

Ether Rises, Corporate Treasury Demand Grows

Ether surged past $3,000 this week, driving increased corporate interest in digital asset accumulation strategies. Overall corporate ETH holdings have climbed to nearly 1.34 million ETH, valued at around $4.1 billion. SharpLink alone now accounts for a significant portion of that total.

The rise of ETH as a preferred digital reserve asset signals changing treasury management trends among public firms. SharpLink has aligned its strategy with this shift, likely anticipating further market developments. The presence of Ethereum co-founder Joseph Lubin as board chair may further influence strategic decisions.

SharpLink’s ETH strategy appears aimed at both treasury diversification and blockchain alignment. The company continues building its ETH stack while capitalizing on blockchain finance trends. This ongoing activity has directly impacted its stock performance and public visibility.