Sharplink Gaming has acquired over 176,000 ETH at an average price of $2,626 per token, creating a key Ethereum Reserve, according to a statement released on June 13th.
The $463 million investment marks the company as the first NASDAQ registered company to implement an Ethereum-centric financial strategy.
Furthermore, the company is ETH’s largest public owner, after only the Ethereum Foundation.
ETH Staking
Sharplink said its Ethereum-centric financial strategy company aims to provide shareholders with a direct exposure to digital assets, while also strengthening its belief in the role of ETH in the power of technology in the future.
In particular, the company reported an 11.8% increase in ETH per share since it began construction of the Ministry of Finance earlier this month. The company has already bet over 95% of its Ethereum holdings, contributing to the security of its network and allowing it to earn additional yields.
Sharplink Chairman Joseph Lubin said:
“By allocating critical capital to ETH and deploying it to network activities such as staking, Sharplink is gaining additional ETH to its work while contributing to Ethereum’s long-term security and trust properties.”
Sharplink allocated most of the recently raised $79 million to further expand Ethereum reserves.
Sharplink Stock Tank
Despite the strategic ETH accumulation, Sharplink’s stock performance fell sharply.
Google Finance data shows that the company’s shares plummeted nearly 67% on June 13, trading around $10.87 at press time.
The sharp decline appears to stem from market fears, led to dilution in shareholders. A viral social media post claimed that nearly every Sharplink’s recent private participants were in a hurry to sell their shares following the announcement of Ethereum Treasury.
To address the concerns, Rubin revealed that the S-3 filing referenced in the virus tweet would merely register the stock for potential resale.
Matt Corva, legal officer at Consensys, explained:
“The stocks in public corporations must exist through the registration process. This is part of the market infrastructure. As part of the SBET pipe, many new stocks have been sold to investors with existing ones.
Ethereum Market Data
When reporting 4:46pm, 13th June 2025 UTCEthereum ranks second in terms of market capitalization, and the price is under 7.23% Over the past 24 hours. Ethereum has a market capitalization $30.847 billion 24-hour trading volume $413.5 billion. More about Ethereum›
Overview of the Crypto Market
When reporting 4:46pm, 13th June 2025 UTCCrypto market totals are evaluated by 3.29 trillion dollars There is a 24-hour volume $1770.4 billion. Bitcoin’s advantage is currently underway 63.91%. Crypto Market Details›