What happened?
Sharplink Gaming has purchased 10,000 ETH directly from the Ethereum Foundation for $25.7 million, marking a significant move in the cryptocurrency space. The transaction was executed on July 10, 2025, at an average price of $2,572.37 per ETH, and was settled on-chain via the Ethereum Foundation’s multisig wallet. This purchase makes Sharplink the largest publicly traded company to adopt Ethereum as its primary treasury asset.
Who does this affect?
This transaction primarily affects investors and stakeholders in both Sharplink Gaming and the broader Ethereum ecosystem. Institutional investors may take this as a signal of increasing institutional interest in Ethereum, potentially influencing other companies to consider similar moves. Additionally, the Ethereum Foundation benefits from the proceeds to support its operations, which include protocol research and infrastructure development.
Why does this matter?
The acquisition by Sharplink Gaming demonstrates growing confidence in Ethereum’s potential and marks an important step towards mainstream institutional adoption. Such large-scale purchases can influence market dynamics by reducing the circulating supply of ETH, potentially driving prices higher. As more companies follow suit, the market impact could lead to increased stability and support Ethereum’s value proposition as a long-term investment.