SharpLink Gaming Acquires 16,373 ETH Worth $49M in Deal With Galaxy

Nasdaq-listed SharpLink Gaming is relentless in its Ethereum (ETH) accumulation spree. In a recent disclosure, the firm purchased 16,373 ETH valued at approximately $49 million. This acquisition was made through Galaxy Digital’s over-the-counter (OTC) desk.

JUST IN: Publicly traded SharpLink Gaming buys 16,373 $ETH worth $49 million directly from Galaxy. pic.twitter.com/ZpxFPe0Ugp

— Whale Insider (@WhaleInsider) July 13, 2025

Last week, SharpLink Gaming also entered into an agreement with the Ethereum Foundation. They acquired 10,000 ETH at an average price of approximately $2,572 from them. 

SharpLink Ethereum Accumulation

According to blockchain analytics firm EmberCN, the recent ETH purchase has boosted the firm’s stash to 270,000. The coins are valued at $822 million at the current market price. This significant holding solidifies the firm’s status as the largest publicly traded holder of ETH.

Although SharpLink has yet to officially confirm the latest purchase, market observers shared that the coins were bought at an average price of $2,667. With Ethereum currently at $3,044, the firm is currently sitting on an unrealized profit of $81.8 million.

Additionally, the company’s stock has responded positively, with shares closing at $21.65 following the latest Ethereum acquisition. This performance reflects investor optimism about SharpLink’s strategic direction. It also underscores their commitment to integrating blockchain technology into the company’s business model.

Drawing a leaf from Strategy’s Bitcoin playbook, SharpLink initiated its Ethereum treasury strategy in late May. Under the guidance of Chairman Joseph Lubin, co-founder of Ethereum and CEO of Consensys, the company has continuously increased its exposure to the altcoin in several purchases.

This strategic accumulation aligns with a $425 million private placement led by Consensys, signaling institutional support for SharpLink’s crypto-centric vision. Beyond building its treasury, the firm has expressed its commitment to supporting Ethereum’s long-term strength and decentralization. SharpLink also allocates a significant portion of its Ethereum to staking and liquid staking services to maximize profit from these assets.

Ethereum Upward Trajectory

The world’s largest altcoin is not left behind as bullish vibes continue to engulf the crypto market. Current market data shows that ETH has surged 18% over the last week, driven by a surge in institutional demand. In fact, Ethereum ETFs pulled in over $900 million in inflows, marking their strongest weekly performance since launching in July 2024.

With a market cap exceeding $366 billion, Ethereum’s 24-hour trading volume has also spiked by 137.40%, signalling robust trader interest and momentum.

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