Key Takeaways
- SharpLink Gaming acquired 16,373 (ETH) for $48.85M via a Galaxy OTC transaction.
- Earlier this week, the company bought 10,000 ETH directly from the Ethereum Foundation in a $25.7 million transaction.
- Ethereum was officially adopted as SharpLink’s primary treasury reserve asset.
- SharpLink named (ETH) as core financial infrastructure, not just a digital asset.
Nasdaq-listed company SharpLink Gaming Inc, chaired by Ethereum co-founder Joseph Lubin, has acquired 16,373 ether (ETH) worth approximately $48.85 million in an over-the-counter transaction facilitated by Galaxy Digital.
According to blockchain transaction data highlighted by crypto analytics accounts on X (formerly Twitter), the transfer of 16,373 ETH from Galaxy to SharpLink Gaming occurred on July 13 in a discreet OTC transaction.
The transaction was first flagged by members of the crypto community and has since drawn widespread attention from digital asset market watchers, though the company had not issued an official announcement at the time of writing.
SharpLink: Ethereum Is More Than an Asset..It’s the Infrastructure of Future Finance
The acquisition marked another major step in SharpLink’s broader strategy to integrate Ethereum, which the company views not as a simple digital asset but as core infrastructure for its treasury operations and long-term technology development.
On July 11, SharpLink Gaming disclosed a direct purchase of 10,000 ETH from the Ethereum Foundation for $25.7 million. The transaction, executed on the Ethereum mainnet for $2,572.37 per (ETH), was finalized on July 10, making SharpLink the first public company to acquire ETH directly from the Foundation.
Commenting on the deal, SharpLink Chairman Joseph Lubin, also a co-founder of Ethereum and CEO of ConsenSys, emphasized the long-term intent behind the purchase. “This isn’t a trade; it is a commitment to our long-term vision,” Lubin said. “SharpLink is acquiring, staking and restaking ETH as responsible industry stewards, removing supply from circulation and reinforcing the health of the Ethereum ecosystem,” he added.
Ahead of the two transactions, SharpLink highlighted Ethereum’s strategic importance in a post on X, stating:
At SBET (SharpLink Gaming), we believe Ethereum is on track to becoming the foundational layer for global finance — not just a new tech platform, but a settlement layer for real assets, AI agents, and the next generation of market infrastructure.
SharpLink also declared itself the first publicly listed company to adopt Ethereum as its primary treasury reserve asset, outlining a threefold strategy: “Accumulate ETH. Stake ETH. Grow ETH-per-share.”
According to the company, Ethereum’s utility extends well beyond that of a passive store of value. It is described as a productive asset due to its ability to generate yield through staking, its functionality across a range of DeFi applications, and its role as foundational infrastructure for technologies shaping the future internet.
“We aim to activate ETH,” the company wrote, pointing to strategies including native staking, restaking, and Ethereum-based yield mechanisms to maximize the capital efficiency of its treasury. The company also stated that the ultimate goal is to translate this digital asset strategy into long-term shareholder value.
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