SharpLink Gaming has expanded its Ethereum holdings once again, purchasing 10,000 ETH directly from the Ethereum Foundation for $25.7 million. This latest acquisition adds to the company’s earlier massive buy of over 176,000 ETH in June, making it the largest public ETH holder globally.
The ETH was bought at an average price of $2,572, and with Ethereum trading near $2,985 at press time, the firm is already sitting on sizable unrealised gains. The transaction was publicly confirmed via a statement on X (formerly Twitter), reinforcing SharpLink’s commitment to Ethereum’s ecosystem.
What stands out is the nature of the purchase—a direct deal with the Ethereum Foundation, suggesting deeper institutional involvement and perhaps a broader strategic alliance. Over 95% of SharpLink’s ETH holdings are currently staked, yielding between 4% and 6% annually.
Joseph Lubin, Chairman of SharpLink and also a co-founder of Ethereum and CEO of Consensys, emphasised that this was not a short-term bet.
“This isn’t a trade – it is a commitment to our long-term vision,” Lubin said. “We are removing ETH from circulation, staking it, and aligning our mission with Ethereum’s push for decentralisation and sustainable finance.”
Lubin also suggested that SharpLink’s approach could become a model for other mission-driven institutions looking to support blockchain ecosystems through direct participation and staking. The purchase coincided with a price surge in ETH, which rose nearly 8% in the last 24 hours and touched $3,000 earlier today.
