SharpLink Gaming’s (NASDAQ: SBET) recent $75M Ether purchase hasn’t halted the stock’s decline, leaving investors to wonder if a larger crypto treasury can stabilize sentiment.
According to the Globe News Wire, the company stated that it added approximately $75M worth of ether this week, bringing its total holdings to nearly 859,853 ETH following a recent capital raise of $ 76.5M.
The move marks a more profound shift toward an Ethereum-focused treasury strategy, positioning the firm among the most active corporate buyers of ETH in 2025.
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SharpLink disclosed it bought 19,271 ETH at an average price of $3,892, following a registered direct offering completed on Oct. 17.
Executives described the approach of raising funds first, then deploying them into ETH at lower prices as “immediately accretive” to shareholders.
Market data shows the company’s combined cash and crypto reserves now stand at roughly $3.5Bn.
Analysts say this move underscores SharpLink’s aggressive push to anchor its balance sheet to Ethereum’s long-term performance.
Ethereum price itself hovered near $4,090 at the time of reporting, mostly unchanged on the day.
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But for now, SBET’s chart remains heavy, reflecting skepticism over whether the company’s crypto bet can lift its struggling stock.
SBET shares traded around $14.90 in today’s session, within a range of $14.21 to $14.90.
(Source: TradingView)
Despite the fresh announcement, the stock remains far below its July highs, down roughly two-thirds and well under its May spike during the company’s first crypto-focused shift.
The slide reflects continued debate among investors about execution, dilution, and crypto exposure risk.
Co-CEO Joseph Chalom said the latest capital raise was completed at a premium to net asset value, adding that buying Ethereum at lower levels “showcases the precision of our strategy.”
The company said it continues to collect staking rewards and maintain strong liquidity as it builds a balance sheet increasingly weighted toward ETH.
Trading interest may also rise after REX Shares introduced a new 2x leveraged ETF tied to SBET (CBOE: SBTU).
The fund could bring added flow and volatility to the name, expanding the stock’s product footprint beyond traditional investors.
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SBET Price Prediction: How Does Ethereum’s Price Movement Affect SBET’s Market Outlook?
According to analyst, SharpLink Gaming’s stock has entered a tight consolidation phase near the $14-$15 zone, a level that has repeatedly served as solid support after months of decline from June highs above $60.
