U.S. online gaming company SharpLink announced at the end of May that it was entering the Ethereum (ETH) strategic reserve, and on June 13, it announced that it had purchased 176,270.69 ETH, spending a total of 460 million dollars, becoming the world's largest publicly traded company with Ethereum reserves, and the second largest ETH holder, next to the Ethereum Foundation.
SharpLink purchased 176,000 ETH, second only to the Ethereum Foundation.
SharpLink announced that it has purchased 176,270.69 ETH, spending a total of $460 million, becoming the largest publicly listed company with reserves of Ether in the world, and the second largest holder of ETH after the Ethereum Foundation.
The funds for this purchase of Ether come from the first private equity (PIPE) transaction conducted on May 26, 2025, and approximately $79 million in total revenue raised through the market issuance of new shares (ATM).
According to the S-3 document previously submitted by SharpLink Gaming, SharpLink Gaming expects to raise up to one billion dollars in funding through the issuance of common stock, preferred stock, warrants, and bonds, in one or more offerings.
(SharpLink announces a billion-dollar Ethereum reserve plan, SBET stock price skyrockets after multiple circuit breakers )
Staking 95% Ether to generate native yield
As of June 13, 2025, over 95% of the ETH held by SharpLink is actively deployed in staking and liquidity staking solutions, generating native yields while also contributing to the network security of Ethereum.
SharpLink Gaming CEO Rob Phythian stated, "This is a milestone moment for SharpLink and public companies adopting digital assets. We believe that Ethereum is the infrastructure for the future of digital commerce and decentralized applications. We have decided to use ETH as our primary reserve asset, which reflects our strong belief in ETH as programmable, yield-generating digital capital."
Joseph Lubin, Chairman of SharpLink Gaming, co-founder of Ethereum, and founder and CEO of Consensys, added: "SharpLink's bold ETH strategy represents a key milestone and innovative approach for Ethereum's institutional application. This strategy comes at a special time when the U.S. Congress is pushing to pass important legislation on stablecoins and digital asset market structure. I hope such legislation can become a catalyst for Ethereum technology. By investing significant funds and deploying them into network activities like staking, SharpLink not only contributes to the long-term security and trust properties of Ethereum but also earns additional ETH as a result."
SBET rose from 6 dollars to 124 dollars, then directly plummeted back to 9 dollars.
Sharplink submitted Form S-3 to the SEC on June 12, registering over 58.7 million shares for potential resale in the future, which the market interpreted as "a large impending sell-off," triggering panic selling pressure, causing the stock price to plummet by more than 70% in a single day, nearly reverting to its original state.
However, upon closer inspection of the submitted content, the subscription prices for PIPE and other investors range from 6.16 to 7.995 USD, which is only a 15% to 50% increase compared to the current price of 9.21 USD. Such a margin does not seem to be the kind of investment return that angel investors would be satisfied with.
This also highlights that traditional financial market investors may lack the psychological preparation to face the volatility of crypto assets. SBET can rise from $6 to $124 in just a few days, only to plummet back down to $9. Such fluctuations in these crypto meme stocks are truly not something an ordinary person can withstand!
( Not every company can be MicroStrategy: What risks do crypto reserve companies face as seen from Sharplink's 70% plunge )
This article discusses SharpLink purchasing 170,000 ETH, second only to the Ethereum Foundation. With the stock price plummeting by 70%, is it a good time to buy? First appeared in Chain News ABMedia.
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SharpLink bought 170,000 ETH, second only to the Ethereum Foundation. Is it a good time to buy with the stock price experiencing a big dump of 70%?
U.S. online gaming company SharpLink announced at the end of May that it was entering the Ethereum (ETH) strategic reserve, and on June 13, it announced that it had purchased 176,270.69 ETH, spending a total of 460 million dollars, becoming the world's largest publicly traded company with Ethereum reserves, and the second largest ETH holder, next to the Ethereum Foundation.
SharpLink purchased 176,000 ETH, second only to the Ethereum Foundation.
SharpLink announced that it has purchased 176,270.69 ETH, spending a total of $460 million, becoming the largest publicly listed company with reserves of Ether in the world, and the second largest holder of ETH after the Ethereum Foundation.
The funds for this purchase of Ether come from the first private equity (PIPE) transaction conducted on May 26, 2025, and approximately $79 million in total revenue raised through the market issuance of new shares (ATM).
According to the S-3 document previously submitted by SharpLink Gaming, SharpLink Gaming expects to raise up to one billion dollars in funding through the issuance of common stock, preferred stock, warrants, and bonds, in one or more offerings.
(SharpLink announces a billion-dollar Ethereum reserve plan, SBET stock price skyrockets after multiple circuit breakers )
Staking 95% Ether to generate native yield
As of June 13, 2025, over 95% of the ETH held by SharpLink is actively deployed in staking and liquidity staking solutions, generating native yields while also contributing to the network security of Ethereum.
SharpLink Gaming CEO Rob Phythian stated, "This is a milestone moment for SharpLink and public companies adopting digital assets. We believe that Ethereum is the infrastructure for the future of digital commerce and decentralized applications. We have decided to use ETH as our primary reserve asset, which reflects our strong belief in ETH as programmable, yield-generating digital capital."
Joseph Lubin, Chairman of SharpLink Gaming, co-founder of Ethereum, and founder and CEO of Consensys, added: "SharpLink's bold ETH strategy represents a key milestone and innovative approach for Ethereum's institutional application. This strategy comes at a special time when the U.S. Congress is pushing to pass important legislation on stablecoins and digital asset market structure. I hope such legislation can become a catalyst for Ethereum technology. By investing significant funds and deploying them into network activities like staking, SharpLink not only contributes to the long-term security and trust properties of Ethereum but also earns additional ETH as a result."
SBET rose from 6 dollars to 124 dollars, then directly plummeted back to 9 dollars.
Sharplink submitted Form S-3 to the SEC on June 12, registering over 58.7 million shares for potential resale in the future, which the market interpreted as "a large impending sell-off," triggering panic selling pressure, causing the stock price to plummet by more than 70% in a single day, nearly reverting to its original state.
However, upon closer inspection of the submitted content, the subscription prices for PIPE and other investors range from 6.16 to 7.995 USD, which is only a 15% to 50% increase compared to the current price of 9.21 USD. Such a margin does not seem to be the kind of investment return that angel investors would be satisfied with.
This also highlights that traditional financial market investors may lack the psychological preparation to face the volatility of crypto assets. SBET can rise from $6 to $124 in just a few days, only to plummet back down to $9. Such fluctuations in these crypto meme stocks are truly not something an ordinary person can withstand!
( Not every company can be MicroStrategy: What risks do crypto reserve companies face as seen from Sharplink's 70% plunge )
This article discusses SharpLink purchasing 170,000 ETH, second only to the Ethereum Foundation. With the stock price plummeting by 70%, is it a good time to buy? First appeared in Chain News ABMedia.