SharpLink Gaming, an online performance-based marketing firm, adopted Ethereum, the world’s second-largest crypto, as a reserve asset in June 2025. Since then, it has periodically purchased the asset. According to a recent press release, the firm has re-entered the crypto market with $258 million, acquiring an additional 79,949 ETH.
Notably, this move sharply contrasts with advice from renowned U.S. economist Peter Schiff, who has urged crypto investors to sell off their ETH holdings and focus on stacking bitcoin (BTC), the world’s leading crypto, to be in line for profits when the market returns to its bullish movement.
SharpLink’s ETH Holdings Increase
The last business week was historic for SharpLink as it boosted its stash by 79,949 ETH to mark its highest weekly purchase since adopting an ETH reserve. To purchase the crypto at various market prices, the company spread its Ether shopping across different business days in the week. As such, it achieved an average acquisition price of $3,238 per ETH.
Following its latest acquisition, SharpLink’s Ether reserve surged by about 29% to hold 360,807 ETH. Notably, SharpLink’s stockpile does not consist only of ETH purchased from the open market. It has staked some of its holdings to generate passive ETH rewards. As a result, its total ETH staking rewards have risen to 567 since June 2, 2025.
Moreover, the firm still holds approximately $96.6 million raised from an at-the-market (ATM) offering, which it intends to deploy strategically in the market for subsequent ETH purchases.
“We continue to strategically leverage our ATM facility to build our ETH treasury in pursuit of our long-term growth objectives,” Joseph Lubin, SharpLink Chairman, commented on the firm’s ETH strategy.
Corporate Crypto Holders on the Rise
Another firm following in SharpLink’s footsteps is Bit Digital. While other firms raise funds to purchase BTC, it sold its bitcoin holdings and used the proceeds to go all in on ETH. Last week, it spent $67.3 million to acquire 19,683 ETH and now holds 120,306 ETH. Bit Digital plans to be the world’s largest corporate ETH holder shortly.
Meanwhile, investors have continued to gain indirect exposure to Ether by buying shares of U.S.-approved exchange-traded funds (ETFs). As a result, last week was the fund’s best business period since launch, as they recorded over $2.1 billion in inflows.
