SharpLink buys $295 million in ETH, targets 500.000 Ethereum

• SharpLink accumulates 438.017 ETH after new acquisition
• Recent purchase adds 77.210 ETH to corporate reserve
• Company integrates institutional staking with Figment

SharpLink Gaming has bolstered its Ethereum strategy by acquiring 77.210 ETH worth approximately $295 million. The move, reported by Lookonchain on July 28, brings the company's corporate reserves to 438.017 ETH, totaling approximately $1,69 billion in assets.

SharpLink( @SharpLinkGaming ) bought another 77,210 $ ETH ($295M) and currently holds 438,017 $ ETH ($1.69B).

— Lookonchain (@lookonchain) July 28, 2025

The transaction, although not yet officially confirmed by the company, brings SharpLink closer to a significant milestone: 500.000 ETH. If it reaches this goal, the company will solidify its position as the second-largest known corporate holder of Ethereum, behind only BitMine Immersion, which holds approximately 566.800 ETH.

According to a data from Arkham Intelligence The newly acquired assets were allocated through 3.200 staking lots with Figment, a company specializing in institutional staking infrastructure. Figment serves over 500 institutional clients, including asset managers, brokerages, and large investors.

The market's reaction was immediate. SharpLink shares, traded under the ticker SBET, have risen more than 120% so far this month. In pre-market trading, the shares reached US$23,61, up 7,37% on the day.

The acquisition is the first major strategic move following the appointment of Joseph Chalom as Co-CEO on July 25. Chalom, a former BlackRock executive, was instrumental in launching the BUIDL fund and structuring the firm's Bitcoin and Ethereum ETFs.

For SharpLink President Joseph Lubin, Chalom's arrival strengthens the company's commitment to institutional exposure to Ethereum. "Joseph brings all three. His decision to join SharpLink is a huge vote of confidence in Ethereum and the role ETH will play in the future of capital markets," he stated.

Chalom shares this view, highlighting that the company's goal goes beyond passive ETH custody: "Our goal [at SharpLink] is not just to hold ETH, but to activate it, using native Ethereum-based staking, re-staking, and yield strategies."