Nasdaq-listed SharpLink Gaming has solidified its position as the largest corporate holder of Ethereum (ETH) after deploying $156 million from a recent $413 million capital raise into ETH acquisitions. According to on-chain data from Lookonchain and Arkham, the company purchased 6,377 ETH ($19.56M) in a single transaction this week, contributing to a seven-day accumulation of 91,330 ETH ($275M).
SharpLink's treasury strategy now holds 285,894 ETH, with an additional $257 million reserved for future digital asset purchases. The company explicitly stated these funds are earmarked for further ETH accumulation, signaling an aggressive long-term bet on Ethereum's ecosystem. This positions SharpLink ahead of other corporations in ETH holdings despite market volatility risks.
The gaming firm's strategy emphasizes Ethereum's utility in decentralized finance (DeFi), NFTs, and blockchain gaming – areas aligning with SharpLink's core business. CEO Rob Phythian cited ETH's "programmable nature and deflationary tokenomics post-Merge" as key factors, viewing it as both a hedge against fiat inflation and a strategic entry into web3 integration opportunities.