On July 14, 2025, SharpLink Gaming (NASDAQ: SBET) acquired 16,373 Ethereum (ETH) tokens valued at $48.85 million through Galaxy Digital’s OTC platform, per Cryptocurrency Press. This move, part of a $600 million ETH accumulation strategy, brings SharpLink’s total holdings to 270,000 ETH, worth over $805 million at $2,981 per ETH, with an unrealized gain of $81.8 million, per bitcoinethereumnews.com.
Led by Chairman Joseph Lubin, Ethereum co-founder and Consensys CEO, SharpLink is transitioning from a gaming and iGaming affiliate to a crypto-focused treasury, staking its ETH to support network security and earn yields, per The Block.
According to Cryptocurrency Press, SharpLink intends to stake and restake its ETH, taking it out of circulation and perhaps reducing the amount of liquid supply. This mirrors MicroStrategy’s Bitcoin (BTC) treasury model, with SharpLink dubbed the “MicroStrategy of ETH” by analyst Mr. APE on X.
Staking could reduce DeFi liquidity, as locked ETH limits availability for protocols, per Coincu. ETH’s price briefly crossed $3,000, up 1.2% in 24 hours, driven by institutional buys like SharpLink’s, per The Block. Blockchain data from Arkham Intelligence confirms the transaction’s timing at 1:02 p.m. on July 13, 2025, aligning with ETH’s rally.
SharpLink’s aggressive ETH purchases, including 31,487 ETH ($90 million) on July 12 and 10,000 ETH ($25.7 million) from the Ethereum Foundation on July 10, have boosted its stock (SBET) by 17.5% to $21.65, with a 63% weekly gain, per ainvest.com. The strategy, backed by a $425 million private placement from Consensys in May 2025, signals strong institutional confidence in ETH’s long-term value, per The Block.
X posts, like @sassal0x (July 14, 2025), reflect bullish sentiment, with SharpLink’s moves potentially inspiring firms like GameSquare, which announced a $100 million ETH treasury plan.
SharpLink’s ETH focus could stabilize Ethereum’s market by reducing supply, with analysts predicting a $3,500 target by Q4 2025 if institutional buying persists, per Coingape. However, risks include ETH price volatility, regulatory scrutiny from the SEC due to large-scale purchases, and SBET’s weak financials (declining revenues, persistent losses), per TipRanks.
A BTC correction could also pressure ETH, given their correlation, per CryptoNews. Investors should monitor ETH’s $3,000 resistance and SBET’s performance via Cryptocurrency Press or @WuBlockchain on X for updates on staking yields and regulatory developments.
