The post SharpLink leads with $463M Ethereum treasury move appeared on BitcoinEthereumNews.com.

SharpLink Gaming has established a significant Ethereum reserve, acquiring more than 176,000 ETH at an average price of $2,626 per token, according to a statement released on June 13. The $463 million investment marks the company as the first Nasdaq-listed firm to implement an Ethereum-focused treasury strategy. In addition, the company is the largest public holder of ETH, behind only the Ethereum Foundation. ETH staking SharpLink stated that its Ethereum-centered treasury strategy company aims to provide its shareholders with direct exposure to the digital asset while reinforcing its belief in ETH’s role in powering future technologies. Notably, the company reported an 11.8% growth in ETH per share since it began building its treasury earlier this month. The firm has already staked over 95% of its Ethereum holdings, allowing it to contribute to the network’s security and earn additional yield. Joseph Lubin, SharpLink chairman, said: “By allocating significant capital to ETH and deploying it in network activities such as staking, SharpLink is both contributing to Ethereum’s long-term security and trust properties while earning additional ETH for that work.” SharpLink has earmarked a significant portion of its recently raised $79 million to expand its Ethereum reserves further. SharpLink stock tanks Despite the strategic ETH accumulation, SharpLink’s stock performance has seen a sharp decline. Google Finance data shows that the company’s stock plunged nearly 67% on June 13 and was trading around $10.87 as of press time. The steep decline appears to stem from market fears tied to shareholder dilution. A viral post on social media alleged that nearly all participants in SharpLink’s recent private placement rushed to sell their shares following the Ethereum treasury announcement. Addressing the concerns, Lubin clarified that the S-3 filing referenced in the viral tweet simply registers shares for potential resale, a standard procedure following PIPE (private investment in…

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Filed under: News - @ June 13, 2025 4:22 pm