SharpLink Now Second-Largest Institutional ETH Holder

SharpLink Gaming, Inc. has increased its Ethereum (ETH) holdings to approximately 449,276 tokens valued at $1.7 billion, following the acquisition of over 88,000 ETH in late July through over-the-counter transactions facilitated by Galaxy Digital. This expansion makes SharpLink the second-largest institutional ETH holder and highlights growing institutional interest in Ethereum. The company financed its purchases mainly through at-the-market share issuances, raising over $850 million in July, and continues to earn staking rewards on its ETH. SharpLink is actively integrating with Ethereum's layer 2 ecosystem to advance its decentralized finance strategy. The firm's aggressive treasury approach has led to significant volatility and heightened trading volume in ETH markets, with its stock price rising nearly 97% in one month before a recent pullback. The appointment of former BlackRock executive Joseph Chalom as co-CEO further emphasizes SharpLink's commitment to digital asset innovation.