SharpLink Gaming establishes the first ETH treasury, backed by Ethereum co-founder Joe Lubin. SharpLink will invest $425 million to acquire 120,000 ETH.
SharpLink Gaming (NASDAQ:SBET) announced a $425 million private investment in public equity (PIPE), in which it will be acquiring about 69.1 million shares of the company at $6.15 per share to form the first Nasdaq-listed treasury company for Ether (ETH).
This move is being made with the help of Joe Lubin, co-founder of Ethereum, and it will invest the funds to acquire 120,000 ETH.
The move by SharpLink is similar to Strategy’s (MSTR) successful bitcoin treasury strategy, which has seen the company generate over $8.2 billion in gains from stock and bond sales to invest in BTC in 2025.
Commenting on the development, former Ethereum core developer and contributor Eric Conner highlighted the bullish implications. He noted that this move will create a “public ETH proxy for funds that can’t hold tokens directly.”
Further, Conner pointed out that the acquisition of 120,000 ETH, which is likely to be staked, will contribute to “supply compression” by removing tokens from circulation. The Ether proponent also added that this move will provide "new narrative fuel," positioning ETH as "digital reserve collateral."
However, crypto analyst VICTOR cautioned against getting too enthusiastic about this news. The analyst highlighted the risk of leveraging gains from an altcoin that is still down 19% in 2025.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
