SharpLink Gaming stock rallies 7% after $30M Ethereum buy

SharpLink Gaming made headlines by acquiring an additional 12,207 ETH for approximately $30.7 million between June 16 and June 20, 2025, at an average price of $2,513 per token. This latest purchase brings the company’s total Ethereum holdings to 188,478 ETH, valued at around $457 million.

The move underscores SharpLink’s confidence in Ethereum as a strategic treasury asset and reflects a broader trend of institutional interest in the cryptocurrency sector.

Share Sale Funds Crypto Expansion

To finance the Ethereum acquisition, SharpLink sold 2.54 million shares, raising $27.7 million in net proceeds. The majority of these funds were allocated to bolster the company’s ETH treasury.

This approach diversifies SharpLink's asset base and signals a forward-thinking strategy aimed at capitalizing on the long-term potential of blockchain technology.

Did you know?
SharpLink Gaming is currently the largest publicly traded corporate holder of Ethereum, surpassing all other listed companies and trailing only the Ethereum Foundation in overall ETH holdings.

Staking Strategy Delivers Additional Yield

As of June 20, 2025, SharpLink has staked 100% of its ETH holdings, generating 120 ETH in rewards since launching its ETH-focused treasury strategy on June 2.

This staking activity has resulted in an 18.97% increase in ETH per share, further enhancing shareholder value and demonstrating the company’s commitment to leveraging decentralized finance for yield generation.

ALSO READ | Ethereum Whales Place $100M Leveraged Bets Amid Market Uncertainty

Stock Price Surges Despite Recent Volatility

Following the announcement, SharpLink’s stock (SBET) rallied over 7%, closing at $9.66 on Tuesday and climbing to $9.77 in after-hours trading. The positive investor response highlights market approval of the company’s aggressive crypto strategy.

However, it’s worth noting that, despite the recent rally, SharpLink’s stock remains down more than 87% from its May 29 high of $79.21, reflecting broader volatility in both the crypto and equity markets.

Institutional Demand for Ethereum Remains Strong

SharpLink’s latest move comes amid a wave of institutional interest in Ethereum. Large holders have recently initiated significant leveraged long positions, staking over 35 million ETH, more than 28% of the total supply.

This surge in institutional participation further validates SharpLink’s bullish stance and positions the company to benefit from ongoing growth and innovation within the Ethereum ecosystem.