Nasdaq-listed SharpLink Gaming has become the largest Ethereum holder, surpassing the Ethereum Foundation. Over the past week, the company has accumulated over 60,000 ETH, pushing its total holdings to 270,000 coins. The value of this Ethereum position is now supported by an unrealized profit of more than $81 million, according to data from EmberCN.

SharpLink Gaming Leads ETH Accumulation Strategy

SharpLink Gaming acquired 60,582 ETH in five days, with purchases totaling $180 million. The firm added another 16,374 ETH in the last 24 hours, investing an additional $50 million. These transactions have taken the company’s total holdings to 270,000 ETH, making it the largest Ethereum holder.

The average purchase price for these tokens is around $2,667. Ethereum is currently trading much higher, leaving the company with an unrealized gain of $81.8 million. On-chain analytics platform Arkham Intelligence confirmed that SharpLink now holds more ETH than the Ethereum Foundation. Most of the acquisitions were conducted through OTC transactions to avoid price slippage and excessive volatility in the market.

ETH Holdings Boosts SBET Stock Performance

SharpLink’s ETH strategy has influenced its market performance. The company’s stock, SBET, has surged more than 60% in the past month. Year-to-date, SBET is up by approximately 275%, according to public market data.

SharpLink Gaming’s approach has drawn comparisons to MicroStrategy’s Bitcoin accumulation strategy. The company began building its ETH treasury in June and has moved aggressively since then. It also purchased more than 10,000 ETH directly from the Ethereum Foundation through private deals. Other companies, such as GameSquare, have started similar ETH treasury initiatives following SharpLink’s lead.

Institutional ETH Demand Rises Amid ETF Growth

Ethereum’s market activity has strengthened, supported by large institutional investments. Over the last week, ETH gained over 18%, breaking above the $3,000 level. Daily trading volume increased by 43% to nearly $25 billion, based on CoinMarketCap data.

Ethereum ETFs also experienced their strongest week since mid-2024, recording $900 million in inflows. EMJ Capital’s founder, Eric Jackson, noted that staking functionality for Ether ETFs may launch before October 2025. “Once that hits, ETH becomes the first yield-bearing crypto ETF in U.S. history,” he said. Jackson believes this may drive further ETH demand.

SharpLink’s entry into large-scale ETH holdings adds to growing corporate interest in Ethereum amid rising institutional inflows and long-term bullish market indicators.