The Ethereum Foundation’s choice to sell ETH was not received well across the crypto community. Critics interpreted the move as a potential signal of declining confidence in Ethereum’s long-term value. In response, Foundation contributors quickly addressed the concerns and clarified their position.
SharpLink now holds over 270,000 ETH
Source Cryptopolitan
SharpLink Gaming doubles down on Ethereum with its latest investment of 16,374 ETH worth $48.85 M. The firm began its Ethereum treasury strategy two months ago, backed by a $425 million private placement.
After this new acquisition, SharpLink holds over 270,000 ETH and has become the second-largest corporate holder of the digital asset behind the Ethereum Foundation. The Minneapolis-based sports betting and entertainment tech company is now looking to make Ethereum more than an investment asset, positioning it as a central part of its treasury infrastructure.
Ethereum’s continued accumulation has contributed to a price rebound, mirroring Bitcoin’s recovery. According to on-chain analytics platform Arkham Intelligence, the surge is largely driven by growing institutional interest in DeFi, staking, protocol-native yield strategies, and blockchain analytics.
SharpLink makes major ETH purchases across key platforms
Earlier on July 11, SharpLink purchased 10,000 ETH for $25.7 million through a deal with the Ethereum Foundation, a nonprofit organization dedicated to supporting the development of fundamental components of the Ethereum ecosystem.
SharpLink continued aggressively buying the next day, July 12, securing an additional 21,487 ETH across two major institutional platforms. Breaking down the purchases from that day: 14,693 ETH from Galaxy Digital for $43.89 million, and 6,804 ETH from Coinbase Prime ($20.37 million).
Foundation contributor Binji Pande framed the transaction as a strategic decision, noting that the ETH was sold to what he called ‘the MicroStrategy of Ethereum’—a nod to SharpLink’s growing reputation as a committed, long-term holder. He stressed that the sale was not a market dump and suggested the ETH could be effectively locked out of circulation through staking and active participation in the Ethereum network.
The Foundation explained that sales proceeds will be put towards protocol R&D, ecosystem maintenance, and community grants — all critical to Ethereum’s development.
SharpLink reaps $45M profit from Ethereum holdings
SharpLink’s Ethereum plan seems to be paying off in spades, at least in the short term. As per the Arkham Intelligence, the value of the company’s existing ETH investment has already appreciated 5 times, bringing $45 million in unrealized profits.
But profit isn’t the sole focus. SharpLink has escrowed all of its ETH into the Hoppers DApp, actively contributing to Ethereum’s security and scalability by participating in Proof-of-Stake and earning staking rewards. The company is also preparing to adopt restaking—a next-generation strategy that allows staked ETH to secure additional protocols and earn layered rewards.
In an interview with Forbes, SharpLink chairman and Ethereum co-founder Joseph Lubin reiterated the firm’s conviction in Ethereum’s long-term viability.
They said the move marks the beginning of something larger, describing it as a template for how mission-driven organizations can contribute to shared goals such as decentralization, economic empowerment, and protocol-driven finance.
Lubin also stressed that SharpLink’s purchases of ETH reflected long-term views, rather than market timing. But they are, in fact, an indication of a calculated shift on where the corporate value bet in blockchain should lie, beyond mere speculation.
Analysts who cover the industry say SharpLink’s model could set a precedent for other businesses, particularly those interested in making money and participating in open financial networks.
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