Share this article
SharpLink Acquires $463M in Ether, Shares Remain 66% Lower
The purchase announcement did little to the stock, which tumbled 70% on a late Thursday filing that allowed investors to sell shares.
Updated Jun 13, 2025, 4:15 p.m. Published Jun 13, 2025, 4:05 p.m.
What to know:
- SharpLink Gaming acquired 176,271 ether for nearly $463 million, becoming the largest ETH holder among publicly traded companies.
- The firm raised $79 million through its at-the-market facility, primarily for ETH acquisition, following a regulatory filing that allowed private placement investors to sell shares.
- SharpLink's shares remain lower by 66% on Friday, but even with that plunge are still ahead by more than 500% since announcing the ETH treasury strategy several weeks ago.
SharpLink Gaming (SBET), the public firm pivoting to a crypto treasury strategy focused on Ethereum, revealed on Friday it acquired 176,271 ether for nearly $463 million.
The purchase makes the firm the largest ETH holder among publicly traded companies, SharpLink said in a press release.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The company tapped its $1 billion at-the-market (ATM) common stock share facility for $79 million to help fund the ETH acquisition.
The ETH purchase announcement came on the heels of a Thursday regulatory filing that potentially enabled investors in the firm's private placement round to sell shares, sending stock prices down 70% after market hours. Some speculated that the firm might have leaned more heavily into the ATM to announce a bigger larger crypto purchase. Shares remain lower by 66% in Friday action.
SharpLink in one of the growing roster of public companies that recently pivoted to add cryptocurrencies to their balance sheets. It raised $450 million earlier this month through a private round from a wide range of investors, including ConsenSys, Galaxy, and Pantera Capital, to buy ETH. Ethereum co-founder and ConsenSys CEO Joseph Lubin also joined the firm as board chairman.
Shares exploded 4,300% higher in a bit more than a week following the firm's crypto strategy in May, but have given back more than 90% of the rally this month.
After the massive price swings and today's decline, shares still trade around 500% higher than before the treasury pivot.
Read more: Ethereum Treasury Firm SharpLink Gaming Plunges 70% – But There May Be a Twist
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Anchorage Digital Buys Securitize’s RIA Platform to Expand Wealth Management Business
The bank has bought the Securitize For Advisors unit, bringing the RIA-focused crypto wealth management platform in-house.
What to know:
- Anchorage Digital acquired Securitize For Advisors (SFA), a crypto platform for RIAs.
- The deal consolidates an existing custody relationship, with 99% of SFA assets held at Anchorage.
- Securitize will refocus on tokenization as Anchorage expands its wealth management offering.
Top Stories
