SharpLink Gaming is hoarding ETH! In 5 days, they spent a whopping $180 million, and their holdings surpass that of the Ethereum Foundation, making them the largest holder.

Nasdaq-listed company SharpLink Gaming (SLG) significantly accelerated its Ethereum (ETH) purchase plan over the past weekend. According to on-chain data tracking, the company currently holds an astonishing 270,000 ETH, successfully surpassing the Ethereum Foundation to become the largest single ETH holding institution in the world. Even more remarkable, based on the current ETH price, SharpLink has amassed over $81.8 million in unrealized profits. With such whale-level institutional buying providing strong support, the ETH price has shown robust momentum, rising more than 18% over the past week.

5 days to throw $180 million! SharpLink swallows over 60,000 ETH in a week

SharpLink Gaming, listed on NASDAQ, is igniting a crazy ETH acquisition frenzy. Data shows that the company has spent up to $180 million in just the past five days (within a week), acquiring a total of 60,582 ETH. Particularly noteworthy is that in the last 24 hours, the company made a $50 million over-the-counter transaction (OTC), increasing its holdings by 16,374 ETH. This transaction has pushed its total holdings to surpass the Ethereum Foundation. Blockchain analysis firm EmberCN confirms that SharpLink's current total ETH reserves have reached 270,000 ETH.

Imitating the Strategy, $81.8 million in floating profit at hand

The actions of SharpLink Gaming are widely seen as imitating Strategy's approach to Bitcoin, but its focus has shifted to Ethereum. The company has steadily accumulated ETH since early June, and completed this large-scale position at an average cost of approximately $2,667 per coin in a very short time. As the ETH market price has significantly risen, EmberCN points out that SharpLink's current unrealized profits have reached $81.8 million.

It is worth noting that last week SharpLink also reached an agreement with the Ethereum Foundation to acquire over 10,000 ETH directly from the latter through OTC (. Most of the ETH acquisition was completed through over-the-counter trading, effectively avoiding severe ETH price fluctuations in the secondary market.

SBET stock price skyrockets! Triggering a corporate ETH reserve competition

Driven by SharpLink's large-scale accumulation of ETH and impressive performance, its stock code SBET has performed exceptionally strong, with the stock price surging over 60% in the past month. Calculating from the beginning of the year, the stock has accumulated an astonishing rise of 275%.

SharpLink's success case is triggering a ripple effect. Led by it, other listed companies, including GameSquare, are also beginning to join the ranks of building company ETH reserves. A competition for ETH reserves led by listed companies seems to be unfolding.

ETH price strongly breaks through $3000, institutional funds surge in

Driven by Whales like SharpLink continuously buying and positive market sentiment, the ETH price has shown a strong upward trend over the past week, with a rise of up to 18%, successfully breaking through the key $3,000 psychological resistance level. The daily trading volume has also surged by 43%, approaching 25 billion USD, fully demonstrating the bullish sentiment of traders.

Institutional interest in ETH is at an all-time high. Data shows that last week, the Ethereum spot ETF recorded a net inflow of up to $900 million, marking the best weekly performance since its launch in mid-2024. Eric Jackson, founder of EMJ Capital, predicts that the staking yield feature of the Ethereum ETF is expected to be approved and launched by October 2025.

"Once realized, ETH will become the first cryptocurrency ETF in U.S. history that offers yield," Jackson emphasized. He further asserted that the ETH price rising to $10,000 is inevitable.