Sharplink Gaming Acquires 74,656 ETH, Stock Surges 8%

Sharplink Gaming Inc., with a market capitalization of $1.8 billion, has acquired 74,656 Ethereum as per their latest report on July 13, 2025.

Sharplink’s recent move to adopt ETH as a primary treasury asset aligns the company with major institutional investment trends, reflecting broader cryptocurrency adoption.

Sharplink Gaming, led by a strategic Ethereum acquisition plan, has funded these transactions through $413 million in At-The-Market equity sales. Described as the world’s largest public ETH holder, Sharplink acquired their 74,656 ETH at a weighted average price of $2,852. This move establishes them as a leader in corporate crypto holdings.

The stock of Sharplink Gaming, trading under the ticker SBET, experienced a notable increase, rising over 8% overnight. This surge is attributed to stronger market confidence in Ethereum’s utility and Sharplink’s proactive investment actions.

The financial implications of Sharplink’s strategic move include increased market volatility and heightened interest from institutional investors. This acquisition positions the company as a key player in crypto treasury strategies while improving liquidity.

Historical analysis demonstrates parallels with established cryptocurrency strategies, such as MicroStrategy’s Bitcoin acquisitions. As DeFi Dad, a prominent DeFi commentator, famously noted, “That’s playing out now with ETH pubcos like @SharpLinkGaming but instead of $126B mcap, $SBET is only a $1.8B mcap with 215k ETH (2.7x mNAV), rapidly buying ETH with ATM sales. It is early.”

Leveraging Ethereum for treasury management marks a strategic evolution in corporate finance, potentially influencing other firms’ treasury protocols.