Nasdaq-listed SharpLink Gaming has expanded its Ethereum (ETH) reserves once again, acquiring 18,680 ETH (worth approximately $66.6 million) through Galaxy Digital on August 4. The purchase brings the company’s total ETH holdings to 498,884 ETH, valued at about $1.8 billion, cementing its position as one of the largest corporate holders of Ethereum.

The move is part of SharpLink’s long-term strategy to adopt ETH as a core reserve asset — a stance that underscores rising institutional appetite for major cryptocurrencies.

Institutional Endorsement of Ethereum’s Role in Web3

SharpLink has consistently emphasized Ethereum’s importance as the backbone of smart contracts and decentralized applications. According to Chairman Joseph Lubin, who is also an Ethereum co-founder, the latest acquisition reinforces ETH’s “mission of decentralization” and strengthens its relevance among institutional players.

The company believes Ethereum’s evolving infrastructure will be critical to its own long-term growth, particularly as the Web3 and decentralized finance (DeFi) sectors expand.

Aggressive Accumulation Strategy

The August 4 purchase follows a series of large acquisitions in recent months.

July 2025: Direct purchase of 10,000 ETH from the Ethereum Foundation.

Week of July 21–25: Added 77,209.58 ETH at an average price of $3,756, pushing holdings to 438,190 ETH.

By August 3: Gained another 30,755 ETH in just 48 hours, bringing the tally to 480,031 ETH.

SharpLink also participates in staking, having earned 722 ETH in staking rewards by July 27, 2025, reflecting its commitment to supporting the Ethereum ecosystem.

With its aggressive buying strategy, SharpLink not only strengthens its balance sheet but also sends a bullish signal to the wider crypto market. Large-scale institutional purchases of this magnitude could bolster sentiment across the entire digital asset space.