SharpLink invests 6 billion in Ethereum

On 18 July 2025, the American company SharpLink Gaming, whose shares are listed on the NASDAQ under the ticker SBET, announced the launch of a large-scale investment initiative: a public offering of up to USD 6 billion worth of shares. The main objective is to allocate the majority of the funds raised to the purchase of Ethereum (ETH), one of the leading cryptocurrencies on the market.

The decision to expand the share offering to $6 billion came after the success of the previous $1 billion raising, which was launched in 2024. Even then, the funds were used to purchase ETH and support the company's operating expenses. This new wave of capital raising shows that SharpLink intends to integrate cryptocurrencies even more deeply into its business strategy.

Already purchased 280,706 ETH

At the time of the announcement, the company already held 280,706 ETH, the largest amount of Ethereum ever owned by a publicly traded company. Part of this volume, approximately 74,656 ETH, was purchased in a single week in July 2025 for a value of approximately $213 million. The average purchase price was about $2,852 per coin.

These assets were staked, allowing SharpLink to earn rewards from the Ethereum network. From 2 June to mid-July, the company has already cashed in 415 ETH as passive income. This means that the investments do not simply 'stand still', but generate an additional cash flow.

First direct transaction with the Ethereum Foundation

Another historic transaction is noteworthy. In mid-July, SharpLink acquired 10,000 ETH directly from the Ethereum Foundation via an over-the-counter (OTC) channel. The deal was valued at approximately $25.7 million, with a price per coin of $2,572. This is the first time in history that the Ethereum Foundation has sold a significant amount of cryptocurrency directly to a listed company.

1 million ETH? A potential impact on the market

If SharpLink completes the entire placement plan and invests the full 6 billion in ETH, it will have about 1 million coins, or about 1.38% of the entire Ethereum circulation worldwide. Such a concentration could affect the liquidity of the cryptocurrency, reducing the supply available for trading and potentially increasing its price in the presence of scarcity.

However, this strong concentration in the hands of a single player also raises concerns among some analysts, due to the possible risk of centralisation, especially regarding the governance of the Ethereum network or possible market manipulation.

A new vector of corporate strategy

SharpLink is set to pioneer a new wave of corporate investment in the crypto world. Unlike other companies that invest in Bitcoin, Ethereum's choice shows an orientation towards Web3, DeFi and smart contracts. The company focuses not only on increasing the value of the ETH, but also on its utilitarian value, through staking and direct involvement in the Ethereum ecosystem.

This approach could inspire other companies to create cryptocurrency reserves as a hedge against inflation, a source of income and an investment in the future of the digital economy.