Gaming company SharpLink has become the largest holder of Ethereum. It reported that it had accumulated 280,706 ETH as of July 13. Thus, SharpLink’s stocks of Ethereum coins exceeded the accumulated 259,433 ETH by the Ethereum Foundation itself. The latter is an organization that supports Ethereum and related technologies.
SharpLink Gaming, Inc. (Nasdaq: SBET) is now the largest publicly traded company in the world to adopt Ether (ETH) as its main reserve asset.
During July 7-13, 2025, the company purchased 74,656 ETH at a weighted average price of $2,852. SharpLink raised approximately $413 million in net proceeds through its At-The-Market (ATM) mechanism, issuing 24,572,195 common shares during the week (July 7-11). Approximately $257 million has not yet been allocated to the purchase of ETH.
As of July 11, the company has allocated 99.7% of its ETH assets to staking protocols. Between July 7 and July 11, 2025, SharpLink received approximately 94 ETH in staking rewards, bringing the total amount of rewards to 415 ETH since the launch of the Ether accumulation strategy on June 2, 2025.
Since the start of the ETH purchases, i.e., June 13, 2025, SharpLink’s ETH holdings have increased by 23% in just over a month.
Source: SharpLink