{"id":1541567,"date":"2025-06-13T15:40:00","date_gmt":"2025-06-13T19:40:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1541567"},"modified":"2025-06-13T15:40:00","modified_gmt":"2025-06-13T19:40:00","slug":"meet-sharplink-the-microstrategy-of-ether","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/meet-sharplink-the-microstrategy-of-ether\/1541567\/","title":{"rendered":"Meet SharpLink, The “MicroStrategy Of Ether”"},"content":{"rendered":"

Meet SharpLink, The “MicroStrategy Of Ether”<\/span><\/p>\n

\n

Authored by Helen Partz via CoinTelegraph.com,<\/em><\/a><\/p>\n

Sports betting platform SharpLink Gaming has acquired 176,271 Ether for $463 million, becoming the world\u2019s largest publicly traded holder of ETH.<\/strong><\/p>\n

<\/a><\/p>\n

In a Friday\u00a0announcement<\/a>, the Nasdaq-listed company said the Ether acquisition was funded through a combination of private placement and at-the-market equity sales,\u00a0including $79 million raised since May 30<\/a>. The average acquisition price came in at $2,626 per coin.<\/p>\n

The company said over 95% of its ETH is now deployed in\u00a0staking and liquid staking platforms<\/a>, earning yield while contributing to Ethereum\u2019s network security.<\/p>\n

\u201cThis is a landmark moment for SharpLink and for public company adoption of digital assets,\u201d <\/strong><\/em>said Rob Phythian, CEO of SharpLink Gaming, adding that the company now treats ETH as its \u201cprimary treasury reserve asset.\u201d<\/strong><\/p>\n

\u201cMicroStrategy of Ether\u201d<\/h2>\n

SharpLink\u2019s move mirrors Strategy\u2019s Bitcoin-buying strategy, but is centered on Ethereum, making it the first public company to adopt ETH as its core treasury reserve asset.<\/p>\n

SharpLink (SBET) is the first Nasdaq-listed firm to adopt an ETH-based treasury model, aiming to offer shareholders \u201cmeaningful economic exposure to ETH,\u201d the company said.<\/p>\n

\u00a0\u201cSharpLink\u2019s bold ETH strategy represents a pivotal milestone and innovative approach to the institutional adoption of Ethereum,\u201d SharpLink chairman and Ethereum co-founder Joseph Lubin said in the announcement.<\/em><\/p>\n

\u201cBy allocating significant capital to ETH and deploying it in network activities such as staking, SharpLink is both contributing to Ethereum\u2019s long-term security and trust properties while earning additional ETH for that work,\u201d he added.<\/em><\/p>\n

Who holds more Ethereum than SharpLink?<\/h2>\n

While SharpLink has become the largest publicly traded holder of Ether globally, some entities are still holding more ETH.<\/p>\n

According<\/a>\u00a0to Arkham data, the Ethereum Foundation now holds 214,129 ETH ($594 million) in its treasury.<\/p>\n

<\/a><\/p>\n

Crypto holdings by the Ethereum Foundation as of June 13, 2025. Source: Arkham<\/em><\/p>\n

Some crypto exchange-traded funds (ETFs) providers like BlackRock also hold a significantly bigger amount of Ether, though on behalf of clients.\u00a0According<\/a>\u00a0to BlackRock data, the iShares Ethereum Trust ETF held roughly 1.7 million ETH as of Thursday, worth around $4.5 billion.<\/p>\n

Controversy over SharpLink\u2019s ETH strategy<\/h2>\n

SharpLink\u2019s ETH strategy has not come without controversy. The company\u2019s share price\u00a0rocketed more than 400%<\/a>\u00a0after its May 27 ETH treasury announcement, as Cointelegraph reported.\u00a0<\/p>\n

Following the announcement of an S\u20113 SEC filing earlier this week,\u00a0shares plunged by about 73% in after\u2011hours trading<\/a>\u00a0on Thursday, dropping from $32.53 to below $8 before partially rebounding,\u00a0according<\/a>\u00a0to Google Finance. The sharp sell\u2011off was spurred by a misunderstanding: The\u00a0filing<\/a>\u00a0allowed for the potential resale of nearly 58.7 million shares from PIPE participants; it was not an actual sale.\u00a0<\/p>\n

SharpLink chairman Lubin clarified that this was a routine regulatory procedure, not insider unloading.<\/p>\n

<\/a><\/p>\n

Source:\u00a0<\/em>Joseph Lubin<\/em><\/a><\/p>\n

The purchase follows a\u00a0broader trend of corporate crypto treasury adoption<\/a>, echoing Strategy\u2019s high-profile Bitcoin strategy, but placing Ether at the center of digital capital reserves.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 06\/13\/2025 – 11:40<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/crypto\/meet-sharplink-microstrategy-ether<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Meet SharpLink, The “MicroStrategy Of Ether” Authored by Helen Partz via CoinTelegraph.com, Sports betting platform SharpLink Gaming has acquired 176,271 Ether for $463 million, becoming…<\/p>\n","protected":false},"author":0,"featured_media":1541568,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1541567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1541567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1541567"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1541567\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1541568"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1541567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1541567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1541567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}