SharpLink Adds Another 20,279 ETH, Surpasses Ethereum Foundation

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Sujha Sundararajan

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Sujha Sundararajan

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Last updated: 

July 17, 2025

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SharpLink Gaming has bought another 20,279 Ethereum (ETH) on Thursday, worth $68.38 million, per Lookonchain data. This comes a day after adding 6,377 ETH worth $19.6 million.

According to Lookonchain, SharpLink has accumulated 111,609 ETH in the past 8 days, valuing $343.38 million.

The Minneapolis-based online performance marketing company began purchasing Ethereum just over a month ago. The company had allocated 99.7% of its ETH holdings to staking protocols.

SharpLink Surpasses Ethereum Foundation, Becomes Largest Corporate ETH Holder

On Thursday, the firm purchased 9.425K ETH, worth $31.88 million initially, and 3 hours later, accumulated another 10.854K ETH for the price of $36.5 million.

As reported by Cryptonews, SharpLink has become the largest corporate holder of ETH to date, overtaking the Ethereum Foundation.

According to a Tuesday press release, SharpLink purchased 74,656 ETH, during the period July 7 through July 13, 2025, becoming the world’s largest corporate holder of ETH.

The company’s aggressive accumulation strategy signals new phase of Ethereum adoption among institutions, emphasizing the perception of ETH as a long-term strategic asset.

Ethereum (ETH) has seen a significant surge, rising over 8% to $3,421 in the past 24 hours. The second-largest crypto saw notable gains in the past week, climbing 21.5%. It is trading at $3,422 at press time, according to CoinMarketCap.

“Institutional flows confirm this shift,” Jamie Elkaleh, Chief Marketing Officer at Bitget Wallet, told Cryptonews.

“Ethereum’s current breakout reflects more than just bullish momentum—it signals a shift in how institutions value digital assets,” Elkaleh added. “Ethereum is emerging as the yield-generating infrastructure play.”

SBET Stock Up 29%

Sharplink Gaming Inc (SBET) stock rose 29.03% on Thursday, signalling rising institutional ETH interest. It is trading at $37.38 per share at the time of writing, according to Google Finance data.

The stock has risen roughly six-fold since the ETH treasury pivot several weeks ago.

The company said in a post on X that Ethereum “is the base layer of the future global economy.”