Yeliz Akmaca 
SharpLink Gaming has made a massive leap in its Ethereum strategy. Backed by Consensys and top-tier investors, the company raised $425 million through a private placement fund, initiating its Ethereum purchases. The management is positioning ETH as its primary treasury asset. Mirroring MicroStrategy’s Bitcoin approach, company aims for similar leadership on the Ethereum side.
Joseph Lubin, founder of Consensys, has become the chairman of SharpLink’s board following this move. Major investors including ParaFi Capital, Electric Capital, Pantera Capital, and Galaxy Digital have also joined the initiative.
CEO Rob Phythian stated, “We believe this represents a powerful partnership that combines SharpLink’s deep capital markets experience with Consensys’ leadership in both technological innovation and building the Ethereum ecosystem. This marks a pivotal moment for SharpLink—highlighting our commitment to innovation and long-term growth. With this investment, we are not only strengthening our affiliate marketing business but also pioneering an Ethereum-based treasury strategy as a Nasdaq-listed company.”
Sharplink The Largest Public Ethereum Treasury
Company has filed a $1 billion shelf prospectus to support its growth goals, allowing for additional Ethereum purchases in the future. Furthermore, the management plans to explore staking and restaking with its ETH holdings. ParaFi and Galaxy Digital are offering custodial support for the Ethereum assets.
Consensys viewed SharpLink’s interest in Ethereum as a shared vision, emphasizing its belief in a programmable economic model. While continuing its core business activities, SharpLink also aims to expand an Ethereum-based financial infrastructure. This strategy offers not only treasury benefits but also contributes to the ecosystem at large.
Meanwhile, ETH supply on exchanges has dropped to its lowest point in 7 years. Institutional players are ushering in a new era of Ethereum accumulation.
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