SharpLink to Expand Ethereum Treasury to Over $2 Billion with $200M Raise

TLDR

• SharpLink will use $200M to expand its Ethereum holdings, reaching a value of over $2B.

• SharpLink’s Ethereum treasury now totals over 521,000 ETH, securing its second-largest position.

• The company raised $200M through a direct offering with global institutional investors.

• SharpLink’s stock surged 4% as the Ethereum treasury expansion plan progresses.

SharpLink Gaming, a Nasdaq-listed company, has successfully raised $200 million through a direct offering. The funds will be used to expand its Ethereum (ETH) holdings, pushing its treasury to over $2 billion. This capital raise, which is expected to close around August 8, 2025, was led by four global institutional investors. It comes shortly after the company increased its Ethereum holdings to 521,939 ETH, making SharpLink the second-largest corporate holder of ETH, behind only BitMine.

The company plans to use the raised funds to acquire more Ethereum, further solidifying its position as a key player in the Ethereum ecosystem. SharpLink’s strategy focuses on accumulating and staking ETH, as well as growing its ETH per share to enhance long-term value for its stakeholders.

Institutional Backing Reinforces SharpLink Ethereum Vision

SharpLink’s $200 million capital raise was structured under an effective shelf registration statement filed with the SEC. A.G.P./Alliance Global Partners served as the lead placement agent, with Société Générale and Cantor Fitzgerald providing advisory roles.

The offering price was set at $19.50 per share, confirming strong institutional support for SharpLink’s vision centered around Ethereum.

Co-CEO Joseph Chalom, who joined SharpLink from BlackRock, emphasized the importance of these institutional investors in validating the company’s strategy. He stated that the backing from prominent global institutions reaffirms SharpLink’s commitment to becoming a leading entity in the Ethereum market. This move as a result aligns with SharpLink’s long-term vision to be a major player in the corporate Ethereum space.

SharpLink’s Strategy to Become a Leading ETH Holder

SharpLink’s focus on Ethereum is central to its growth strategy. The company’s approach mirrors that of Michael Saylor with Bitcoin, using its equity (SBET shares) to offer institutional investors indirect exposure to Ethereum.

By accumulating more ETH, SharpLink aims to increase its holdings over time and become a dominant corporate player in the Ethereum ecosystem.

Recently, SharpLink acquired 83,561 ETH, valued at $264 million, which further raised its holdings to over half a million ETH. This acquisition as a result strengthened SharpLink’s position as the second-largest corporate ETH holder, after BitMine, which holds more than 833,000 ETH. SharpLink plans to continue its growth strategy by acquiring more Ethereum, ensuring a competitive edge in the market.

Market Response to SharpLink Ethereum Strategy

Following the announcement of the $200 million raise, SharpLink’s stock (SBET) surged as much as 4%. This increase reflects growing investor confidence in the company’s Ethereum-focused strategy.

Over the past month, SBET has gained 57%, and its year-to-date (YTD) increase stands at an impressive 192%. SharpLink’s stock also saw a significant rise of 1,000% when it first revealed its plans to adopt Ethereum as its primary reserve asset in May.

This growing interest in SharpLink’s strategy as a result has been fueled by the demand for Ethereum, which recently saw its price hit a six-month high of $3,900. As institutional investors continue to accumulate Ethereum, SharpLink’s move to expand its treasury positions it well for further growth in this space.