On July 3, 2025, SharpLink Gaming, Inc. (SBET) announced its strategic move to adopt Ethereum (ETH) as its primary treasury reserve asset. This decision, announced on May 27, 2025, aligns the company with decentralized finance (DeFi) and financial innovation.
SharpLink acquired approximately 176,271 ETH between May 30 and June 12, 2025, for about $463 million, at an average price of $2,626 per ETH. By July 1, 2025, the treasury expanded to 198,167 ETH, yielding over 222 ETH in staking rewards since the strategy's inception. The company's ETH holdings reached 188,478 ETH by June 24, 2025, with 100% of reserves in staking solutions.
To mark this milestone, SharpLink will ring the Nasdaq closing bell on July 7, 2025. As of July 3, 2025, SharpLink Gaming's stock (SBET) closed at $12.66, up 5.89% from the previous close. The day's trading volume was 33,808,340 shares. Joseph Lubin, Co-Founder of Ethereum, joined the Board of Directors as Chairman upon closing this placement.