Nasdaq-listed company SharpLink Gaming (SBET) announces the purchase of 10,000 ETH from the Ethereum Foundation.
According to a press release, the 10,000 ETH cost roughly $25.72 million, equivalent to $2,572.37 per coin. SharpLink revealed that it finalized the acquisition on July 10, 2025. Notably, the purchase aligns with SharpLink’s commitment to adopt Ethereum as a primary treasury reserve asset.
Ethereum Foundation Confirmed Purchase
The Ethereum Foundation also published an X thread, confirming that it sold 10,000 ETH to SharpLink via an over-the-counter (OTC) transaction earlier this week. Per the announcement, the foundation transferred the funds directly from one of its multisig wallets, 0xc06…10B6d.
Although SharpLink stated that the transaction closed yesterday, on-chain data shows that the foundation transferred the 10,000 ETH tokens to SharpLink’s blockchain wallet today at 12:31 p.m. (UTC).
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Ethereum Foundation sells 10K ETH to SharpLink Gaming
Ethereum Founder Reacts
Meanwhile, the Ethereum Foundation disclosed that it will use the funds raised from the transaction to finance its core operations and activities. In particular, the funds will be allocated to the foundation’s ongoing work, including ecosystem growth, protocol research and development, as well as community grants.
Joseph Lubin, co-founder of the Ethereum Foundation and Chairman of SharpLink, disclosed that the 10,000 ETH acquisition goes beyond a short-term trade. It is a commitment to the organization’s long-term vision.
Moreover, he indicated that SharpLink will stake and re-stake the 10,000 ETH, locking up the tokens and reducing the circulating supply. In his view, this move could set a precedent for how mission-driven organizations can support Ethereum’s shared goals of economic empowerment and decentralization.
SharpLink Ethereum Holdings Soars to 215,634
Meanwhile, the latest acquisition further increases SharpLink’s holdings of the second-largest cryptocurrency by market cap. According to the firm, it is currently the largest publicly-traded company to adopt ETH as a primary reserve asset.
Earlier this week, SharpLink announced that it purchased 7,689 ETH between June 28 and July 4 for $19.2 million. As of July 8, the company claimed it held around 205,634 ETH. Following its latest acquisition, it has increased its holdings to 215,634 ETH tokens.
It is worth mentioning that SharpLink has been staking and re-staking the ETH it holds. Earlier this week, the company reported earning over 320 ETH in staking rewards, which were subsequently re-staked.
NEW: SharpLink now holds ~205,634 ETH
Between June 28 and July 4, SharpLink acquired ~7,689 ETH for ~$19.2M at an average price of ~$2,501 per ETH
During that same period, the company raised an additional ~$64.2M through its ATM facility, selling ~5.4M shares
SharpLink has… pic.twitter.com/bhS0K1ZBul
— SBET (SharpLink Gaming) (@SharpLinkGaming) July 8, 2025
The latest announcement comes just hours after Ethereum crossed the $3,000 threshold. At the time of publication, Ethereum was trading at $3,005, up 7.85% in the past day and 18.54% over the past week.
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