Key Takeaways
- SharpLink Gaming has acquired 31,487 ETH, adding to its existing reserves, for a total of 237,121 ETH, valued at approximately $717.7 million.
- Ethereum co-founder and founder of Consensys, Joseph Lubin, endorsed SharpLink’s recent ETH purchase.
- An increasing number of corporate firms are turning to Ethereum over Bitcoin.
SharpLink Gaming, a sportsbook marketing firm, has acquired 31,487 ETH, further cementing itself as the largest publicly traded company to adopt Ethereum as its primary treasury asset.
Joseph Lubin, co-founder of Ethereum and founder of Consensys, commended the recent purchase as a long-term commitment to the digital asset’s vision.
SharpLink Gaming Accumulates ETH
On Friday, July 11, SharpLink Gaming announced the acquisition of 31,487 ETH, valued at $90 million. This move further establishes the company as the largest publicly traded firm to adopt Ethereum as its primary treasury asset.
According to a press release, the company initially agreed to acquire 10,000 ETH through a deal with the Ethereum Foundation. It then purchased an additional 21,487 ETH from the open market via over-the-counter transactions on Coinbase Prime.
During the week of June 28 through July 4, 2025, SharpLink acquired 7,689 ETH at an average price of $2,501, as announced on Tuesday, July 8.
The company now holds 237,121 ETH, worth approximately $717.7 million at the time of reporting.
Joseph Lubin Endorses Purchase
SharpLink’s entry into Ethereum prompted Consensys to lead the firm’s $425 million fundraising round in June.
Following the latest acquisition, Joseph Lubin, Consensys founder and a key Ethereum developer, praised the move as a strategic and enduring commitment:
“At a time when Ethereum is entering a new era of institutional relevance, we are proud to support the network’s long-term strength and decentralization mission.”
“Moreover, we see this as the start of something bigger – a model for how mission-driven organizations can work to advance our ecosystem’s shared goals of decentralization, economic empowerment and protocol-native finance.”
As part of Consensys’ support, Lubin has become Chairman of SharpLink to help guide the firm’s integration of Ethereum “into its core operations and long-term vision.”
Corporate Shift Toward Ethereum
A broader trend is emerging in the corporate world, with Ethereum increasingly taking precedence over Bitcoin in some digital asset strategies.
One prominent example is Bit Digital, a digital asset firm that was previously focused on building a Bitcoin-centric treasury.
On July 7, the company announced it had sold 280 Bitcoin and would use those funds, alongside proceeds from a recent public offering, to acquire over 100,000 ETH.
“As of today, Bit Digital has accumulated over 100,000 ETH,” the company wrote.
“But we are not new to Ethereum, nor to our conviction in its opportunity,” they added.
Several factors have driven this shift.
Leading financial institutions like BlackRock, Franklin Templeton, and PayPal are building on Ethereum, underscoring its central role in financial innovation.
There is also growing anticipation that the U.S. Securities and Exchange Commission (SEC) may approve Ethereum ETFs with staking capabilities, transforming them into income-generating instruments via staking rewards.
At the same time, Ethereum has strengthened its leadership in tokenized real-world assets (RWAs), hosting over $7 billion in assets such as U.S. Treasuries and equities, all backed by its secure and transparent infrastructure.
While Bitcoin maintains its reputation as “digital gold,” Ethereum is increasingly viewed as a high-growth technology platform aiming to become an integral part of the financial system’s future.
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