SharpLink Gaming Buys Another 16,373 ETH (~$48.85M) via Galaxy OTC

HKAN | Jul 14

SharpLink Gaming (Nasdaq: SBET), the Ethereum-focused public company chaired by co-founder Joe Lubin, has purchased 16,373 ETH (~$48.85 million) via Galaxy Digital’s OTC desk, according to recent reports (turn0search0, turn0search2).

 

 

Market Reaction

The sizeable purchase triggered a 17.75% surge in Ethereum’s price, briefly pushing ETH past $3,000 before stabilizing in the $2,900 range (turn0search0).

 

 

Growth in Ethereum Treasury

This deal builds on SharpLink’s aggressive acquisition strategy: the company recently bought an additional 21,487 ETH (~$64.24 million) in one day via Galaxy Digital and Coinbase Prime (turn0search9), bringing its total ETH holdings to around 270,000 ETH—a key element of its crypto treasury strategy (turn0search3).

 

 

Strategic Significance

Institutional ETH accumulation: Led by Ethereum veteran Joe Lubin, SharpLink is positioning itself as a heavyweight holder and network steward.

 

DeFi ecosystem support: Funds are being set aside for staking and restaking, contributing to Ethereum network health and decentralization (turn0search3).

 

Corporate model parallel: SharpLink is emulating successful Bitcoin treasury strategies (e.g., MicroStrategy), now with Ethereum.

 

 

 

Final Take

SharpLink Gaming’s latest 16,373 ETH buy cements its status as one of the largest public holders of Ethereum. With sustained accumulation and ever-growing influence, the company is redefining corporate treasury strategies in the crypto space.