SharpLink Gaming (Nasdaq: SBET) Expands Ethereum Holdings to 200,000 ETH Worth $528M, Stock Surges 28%, Earns 222 ETH Staking Rewards

SharpLink Gaming, a publicly traded company on Nasdaq under the ticker SBET, has substantially increased its Ethereum (ETH) holdings through multiple acquisitions since late June 2025. The company expanded its crypto treasury by acquiring over 188,000 ETH valued around $457 million in late June, marking it as the largest publicly traded Ethereum holder. Following this, SharpLink continued to purchase additional ETH via over-the-counter (OTC) transactions, adding 1,989 ETH worth approximately $4.82 million and 4,951 ETH valued at $12.4 million in early July. By July 1, SharpLink's total Ethereum holdings surpassed 200,000 ETH, with a total investment of about $528 million and a current unrealized loss of roughly $22.92 million.

The company also earned 222 ETH in staking rewards since June 2, 2025, and has staked a significant portion of its ETH through Figment and via the lsETH protocol. SharpLink's stock price responded positively to these acquisitions, surging as much as 28% to $11.98. Additionally, SharpLink deposited 2,993 ETH (approximately $7.28 million) into Coinbase Prime as part of its broader strategy. The company's aggressive accumulation aligns with a broader institutional trend, as the Total Strategic ETH Reserve, which includes multiple institutional holders, now holds over 1.22 million ETH valued at more than $3 billion, reflecting sustained long-term confidence in Ethereum's value and utility.