SharpLink Acquires 10,000 ETH from Ethereum Foundation

• Lyla Velez
• July 11, 2025
• Investment
• 0 Comments

SharpLink Gaming, under Chairman Joseph Lubin, acquired 10,000 ETH from the Ethereum Foundation, marking a significant investment on July 11, 2025.

This acquisition signifies SharpLink’s strategic move into cryptocurrency, impacting both Ethereum staking metrics and the company’s stock performance.

SharpLink Gaming’s purchase of 10,000 ETH at $2,572.37 per coin totaled $25.7 million. This deal marks SharpLink as the largest public company using Ethereum as a treasury asset. The Ethereum Foundation acted as the seller in this transaction.

Joseph Lubin, Chairman of SharpLink and Ethereum Co-Founder, emphasized a long-term plan to stake and restake ETH, enhancing network decentralization. ConsenSys Software Inc. is involved, relating to stock agreements tied to the purchase.

“This marks a long-term commitment rather than a short-term trade, with plans to stake and restake the majority of ETH acquired and to actively support network decentralization.” – Joseph Lubin, Chairman, SharpLink Gaming [1]

SharpLink’s stock (SBET) has increased by 7% since the acquisition, signifying positive market reactions. The scale of the purchase is expected to impact network staking statistics, potentially increasing protocol participation.

Financial implications include potential liquidity shifts and increased ETH price volatility. This mirrors past events like Tesla’s Bitcoin acquisitions, which affected stock and crypto market dynamics alike.

Historically, such acquisitions have triggered industry debates on risk and regulation. Similar events involving Bitcoin have raised discussions on how they influence market trends and corporate balance sheets.

Further analysis indicates potential regulatory scrutiny and shifts in market trends influenced by corporate crypto holdings. This move could also bolster technological advancements within Ethereum’s ecosystem.