SharpLink Gaming, Inc. (SBET) has acquired 16,373 Ethereum (ETH) worth $48.85 million via Galaxy Digital's OTC desk on July 14, 2025. This marks the company's latest strategic purchase, bringing its total ETH holdings to approximately 270,000 ETH (valued at $450 million) as tracked by Arkham Intelligence, making SharpLink the second-largest corporate Ethereum holder globally, trailing only the Ethereum Foundation.
The acquisition follows a $63.7 million ETH purchase earlier in July and forms part of a broader treasury strategy launched in May 2025, backed by a $425 million private placement led by Consensys. Ethereum co-founder Joseph Lubin, who chairs SharpLink, confirmed the company is "accumulating tens of millions of dollars in Ether daily" to support Ethereum's long-term strength and decentralization. Lubin emphasized, "We are proud to support the network’s decentralization mission" during this period of institutional adoption.
SharpLink's aggressive accumulation has positively impacted its stock (SBET), which surged 17.15% to $21.65 last week. ETH itself traded near $2,981 at the time – approaching February 2025 highs – reflecting growing market confidence. The OTC execution minimized market disruption while underscoring Ethereum's evolution into a core institutional reserve asset.