U.S.-listed SharpLink Gaming, Inc. has significantly expanded its Ethereum (ETH) reserves. Today, it reported a 29% week-over-week surge in ETH holdings, now totaling 360,807 tokens as of July 20. Notably, the company added 79,949 ETH during the week at an average cost of $3,238 per token. This marks its largest single-week acquisition since launching its crypto treasury initiative. Ethereum Treasury Strategy Gains Momentum Since unveiling its digital treasury strategy on June 2, 2025, SharpLink has steadily increased its exposure to Ethereum. The initiative aims to shift part of the company’s balance sheet into blockchain-based assets, providing both liquidity and long-term growth potential. As a result, SharpLink now holds the world’s largest corporate treasury reserve of Ethereum. In addition to purchasing ETH, the company has earned 567 ETH in staking rewards. This demonstrates returns earned through active participation in Ethereum’s proof-of-stake network. SharpLink also introduced a new metric called “ETH Concentration” to track shareholder value in real terms. This metric measures ETH holdings per 1,000 diluted shares. The figure has increased to 3.06, reflecting a 53% rise since the strategy began. This signals a deliberate effort to enhance asset concentration and optimize treasury performance. Capital Deployment Through Share Issuance The growth in ETH holdings was made possible through the company’s At-The-Market (ATM) facility. SharpLink issued 3.8 million shares in the past week, raising $96.6 million in net proceeds. These funds were used to purchase Ethereum. The company has previously raised capital through similar issuances, 2.5 million, 5.5 million, and 24.6 million shares over the past several weeks. This demonstrates a consistent pattern of employing equity financing to bolster its cryptocurrency position. The company still has $96.6 million available under its current ATM authorization. It appears poised to continue accumulating Ethereum in the coming weeks, depending on market conditions. Favorable Regulatory Environment Spurs Confidence SharpLink’s aggressive ETH strategy comes at a time when the regulatory landscape in the United States is shifting in favor of blockchain innovation. The recent passage of the Genius Act, signed into law by President Donald J. Trump, introduces a clear and comprehensive legal framework for digital assets and smart contracts. For companies like SharpLink, which are actively integrating blockchain technologies, this legislation reduces regulatory ambiguity. It also opens the door for more institutional adoption and investment in crypto infrastructure. The company views the new law as a critical development that supports both its current strategy and future growth in the digital economy. By aligning its operations with Ethereum’s ecosystem and capitalizing on improved regulatory clarity, SharpLink is positioning itself as a forward-thinking player in the rapidly evolving digital asset sector.
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