SharpLink Expands Ethereum Holdings to 859,853 ETH Worth $3.5B, Doubling Treasury Exposure Since June

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SharpLink (SBET) has significantly strengthened its Ethereum position, acquiring 19,271 ETH at an average price of $3,892, according to a company update posted on October 21. The purchase brings its total holdings to 859,853 ETH, currently valued at approximately $3.5 billion.

The firm’s strategic accumulation highlights a continued commitment to blockchain infrastructure and long-term exposure to digital assets. SharpLink noted that its ETH concentration ratio has now climbed to 4.0, representing a 100% increase since June, underscoring its disciplined treasury management and conviction in Ethereum’s long-term potential.

Strong Treasury and Staking Metrics

For the week ending October 19, 2025, SharpLink reported raising $76.5 million in new capital at a 12% market premium, a clear signal of strong investor confidence. Since launching its staking initiative on June 2, the company has generated 5,671 ETH in staking rewards, further reinforcing its on-chain yield strategy.

SharpLink now holds $36.4 million in cash, complementing its Ethereum reserves and providing financial flexibility to expand its decentralized gaming and infrastructure initiatives.

Ethereum-Focused Growth Strategy

The company’s growing ETH exposure mirrors a wider movement among institutional players turning to Ethereum-based yield models for treasury diversification. By combining staking rewards with strategic accumulation, SharpLink aims to align its treasury growth with the expansion of the broader Web3 ecosystem.

This approach positions the company at the intersection of decentralized finance and digital entertainment, integrating Ethereum’s liquidity and scalability into its product and payment infrastructure.

Ethereum Treasuries on the Rise

SharpLink isn’t the only firm going big on Ethereum. BitMine Immersion Technologies (NYSE American: BMNR) recently announced that its total crypto and cash reserves have reached $13.4 billion, making it the largest Ethereum treasury in the world and the second-largest overall, trailing only Strategy Inc.

BitMine now holds 3.24 million ETH, representing 2.7% of Ethereum’s total supply, alongside 192 BTC, $219 million in cash, and a $119 million stake in Eightco Holdings (NASDAQ: ORBS). The firm’s latest accumulation of 203,826 ETH during last week’s market dip highlights its strategy of aggressively increasing exposure amid volatility, reinforcing the narrative that major players see Ethereum as the cornerstone of institutional crypto portfolios.

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