• Sharplink Gaming acquired 176,271 ETH for $463M, becoming the top public Ethereum holder.
• Over 95% of ETH holdings staked, boosting network security and yield.
• SBET stock dropped 66% pre-market despite a 1,000% surge in the past 30 days.

Sharplink Gaming has secured its place as the top publicly traded Ethereum holder following a $463 million purchase. The acquisition, which totals 176,271 ETH, positions the company ahead of all other publicly listed entities in terms of Ethereum holdings. With this strategic investment, Sharplink Gaming has formally launched its Ethereum Treasury Reserve, marking a major step in its digital asset strategy.

Company Finalizes $462 Million ETH Treasury

The company confirmed it acquired 176,270.69 ETH at an average price of $2,626 per unit. The total purchase value came to $462,947,816. This move follows Sharplink’s successful fundraising efforts, which included $425 million raised through a private placement offering. 

An additional $79 million was generated via the firm’s at-the-market facility, contributing to the capital used for Ethereum acquisitions. These funds were deployed to secure Ethereum assets and establish the foundation of the company’s treasury.

The Ethereum Foundation remains the top ETH holder while Sharplink Gaming secures its position as the second-largest holder worldwide. The firm stated that this move comes from its ongoing strategy to synchronize business operations with blockchain systems and expand digital asset markets. The organization holds ETH because it believes Ethereum will play a significant role in future financial systems and technological developments.

Staking Strategy and Yield Generation Underway

Beyond simply holding ETH, Sharplink Gaming revealed that over 95% of its holdings have already been deployed for staking and liquid staking solutions. This decision is aimed at both supporting the Ethereum network and earning native yield through validator rewards and staking platforms.

Since the initial acquisition earlier in June, the company has reported a growth of 11.9% in ETH per share, highlighting the immediate impact on shareholder value.

Sharplink Gaming’s staking approach not only contributes to network security but also reflects a calculated method to generate additional returns on its Ethereum reserve. This development underlines the firm’s intention to integrate blockchain-based solutions into its long-term corporate strategy.

SBET Stock Volatility Persists Despite Crypto Push

While the Ethereum purchase signals a bold step in crypto adoption, the company’s stock has shown volatility. TradingView data indicates that Sharplink’s SBET stock has declined over 66% in pre-market trading. After-hours trading on June 12 saw a drop of up to 73%. Despite the recent dip, SBET remains significantly higher than its position a month ago.

According to MarketWatch, the stock has surged nearly 1,000% in the past 30 days. Year-to-date figures show over 300% growth. However, recent pullbacks have dampened the momentum slightly. Investors are closely monitoring how the Ethereum strategy will influence the company’s long-term market performance.

Following the announcement the market price of Ethereum has not experienced significant changes. According to CoinMarketCap information Ethereum is currently trading at approximately $2,500 which indicates a decrease of 7% in value during the past day.