SharpLink Gaming is making waves in the crypto world as its aggressive accumulation of Ethereum (ETH) brings its treasury to 521,939 ETH, worth approximately $1.91 billion at current prices. The move places the sportsbook marketing firm among the world’s largest corporate holders of Ethereum, significantly expanding its influence within the digital asset ecosystem.

In its latest disclosure on Tuesday, August 5, the firm revealed that it had purchased an additional 83,561 ETH for $264.5 million between July 28 and August 3, at an average price of $3,634 per ETH. Just days earlier, SharpLink had acquired 30,755 ETH for $108.57 million over the weekend, following a previous $295 million ETH buy last week.

These consecutive acquisitions demonstrate SharpLink’s confidence in Ethereum’s long-term value and its ongoing effort to create what it calls “the most trusted Ethereum treasury in the world.”

Staked Holdings and Rising ETH-Per-Share Value

Importantly, SharpLink isn’t just buying ETH, it’s staking all of it.

“100% of our ETH is staked,” the company stated on X (formerly Twitter), highlighting that cumulative staking rewards have now reached 929 ETH. This strategy allows the company to earn passive income via Ethereum’s proof-of-stake (PoS) consensus mechanism, adding further value to its treasury beyond speculative price appreciation.

The firm’s ETH-per-share metric, a key internal measure, has climbed to 3.66 up from 3.40 just last week. Since launching its ETH-focused treasury strategy on June 2, the metric has surged by 83%, indicating substantial shareholder exposure to Ethereum’s growth.

Strategic Leadership and Endorsements from Ethereum’s Elite

Backing SharpLink’s bold pivot is a wave of institutional credibility and high-profile endorsements. On July 25, the company appointed Joseph Chalom, a two-decade BlackRock veteran, as co-CEO to lead its global expansion and strategic execution.

This executive appointment follows another major development in May when Ethereum co-founder and Consensys CEO Joseph Lubin was named Chairman of SharpLink’s board of directors. Lubin’s Consensys also led SharpLink’s $425 million fundraising round in June, further validating the firm’s Ethereum-centric roadmap.

Lubin praised SharpLink’s commitment to the Ethereum ecosystem, stating,

“At a time when Ethereum is entering a new era of institutional relevance, we are proud to support the network’s long-term strength and decentralisation mission.”

He also framed SharpLink’s strategy as a blueprint for how mission-driven companies can help advance decentralised finance (DeFi) and protocol-native economics.

Ethereum Overtaking Bitcoin in Corporate Strategies

SharpLink’s growing ETH treasury is part of a wider shift among institutions moving beyond Bitcoin and embracing Ethereum as the backbone of next-gen finance.

One notable example is Bit Digital, a digital asset firm that recently pivoted from a Bitcoin-first strategy. On July 7, Bit Digital announced it had sold 280 BTC to purchase over 100,000 ETH using both the proceeds and funds raised in a recent public offering.

“We are not new to Ethereum, nor to our conviction in its opportunity,” Bit Digital stated, reflecting growing institutional alignment with Ethereum’s broader utility.

The shift is also being catalysed by increasing anticipation of Ethereum-based ETFs with staking capabilities in the U.S. Once approved, these ETFs could turn ETH into an income-generating asset for mainstream investors, a functionality Bitcoin doesn’t natively offer.

Ethereum’s Expanding Role in Traditional Finance

The institutional tilt toward Ethereum is backed by real-world adoption and infrastructure developments. Financial giants such as BlackRock, Franklin Templeton, and PayPal are building products on Ethereum, validating its role as a foundational layer for financial innovation.

Moreover, Ethereum has become the leading blockchain for tokenized real-world assets (RWAs), currently hosting over $7 billion in tokenized U.S. Treasuries, equities, and other financial instruments. These are built on Ethereum’s secure and programmable architecture, enhancing transparency and efficiency in traditional finance.

While Bitcoin continues to serve as a store of value, the proverbial “digital gold.” Ethereum is increasingly seen as a high-growth, utility-rich platform with the potential to underpin a decentralised financial future.

A Corporate Bet on Ethereum’s Institutional Destiny

SharpLink’s rapid ETH accumulation, leadership appointments, and long-term strategy indicate more than a mere treasury diversification move, it’s a corporate bet on Ethereum’s future as the core of the financial system.

With all its ETH staked and strategic partnerships in place, SharpLink is positioning itself not only as a heavyweight ETH holder but also as a key player in shaping how companies interact with blockchain technology. As Ethereum moves closer to mainstream institutional adoption, SharpLink’s early and aggressive entry could prove to be a defining move in the evolution of corporate crypto treasuries.