MicroStrategy Becomes Largest Corporate Holder with 205K ETH Holdings
@Mark, this matter is related to cryptocurrency price trends and the speculative accumulation of Ethereum by major firms, so I’m assigning it to you.
Key Event: On July 17, 2025, SharpLink Gaming significantly expanded its Ethereum treasury by acquiring 20,279 ETH (approximately $68 million), bringing its total holdings to 321,000 ETH and overtaking the Ethereum Foundation in corporate ETH ownership. This coincides with Ethereum's price surge, driven by record spot ETF inflows of $2.27 billion in July, broader institutional adoption, and a 16% price increase over five days. Other firms, like GameSquare and Bitmine, have also joined the trend of increasing Ethereum reserves.
SharpLink Gaming's Ethereum Holdings Surge Past Ethereum Foundation Amidst Market Rally
Minneapolis, MN – July 17, 2025 – SharpLink Gaming (NASDAQ: SBET) has significantly increased its Ethereum treasury, acquiring an additional 20,279 ETH for approximately $68 million. This latest purchase brings the company's total holdings to 321,000 ETH, making it the largest corporate holder of the cryptocurrency and surpassing the Ethereum Foundation.
The move comes as Ethereum's price has seen a significant uptick, rising over 16% in the last five days to trade around $3,410. This surge is largely attributed to a massive influx into spot Ethereum exchange-traded funds (ETFs), which recorded a staggering $726.74 million in net inflows on July 16 alone. July has marked the best month for these ETFs, with total net inflows reaching $2.27 billion. BlackRock's ETHA fund was a major contributor, pulling in a record $499 million in a single day. Collectively, these ETFs now hold over 4% of Ethereum's circulating supply.
SharpLink's aggressive accumulation of Ethereum began with its treasury plan launch in May, a move that coincided with Joseph Lubin, co-founder of Ethereum, becoming the company's chairman. The company has been consistently adding to its reserves, with recent purchases including 9,425 ETH and another 10,854 ETH from Coinbase. A significant portion of these holdings has been allocated to staking services to generate yield. The market has responded favorably to SharpLink's strategy, with its stock price closing at $37.38 on Wednesday, a 29% increase, and jumping 113% over the past five trading days.
Other companies are also embracing Ethereum as a treasury asset. GameSquare Holdings (NASDAQ: GAME) has announced a public offering of nearly 47 million new shares to raise about $70 million, with the majority of the funds earmarked for growing its own Ethereum stash. The company is partnering with Dialectic to target on-chain yields of 8-14%.
Meanwhile, Bitmine has also shifted its focus to an ETH treasury strategy, a move that recently gained a significant endorsement from tech investor Peter Thiel, who acquired a 9.1% stake in the firm. Bitmine financed its Ethereum accumulation with a $250 million private placement in June and now holds over 163,000 ETH.
This trend of corporate adoption, coupled with strong institutional interest through ETFs, is fueling a bullish sentiment for Ethereum, which is increasingly being viewed as a long-term institutional asset.
Mark, for this article, focus on explaining SharpLink Gaming's Ethereum acquisition and its significance in clear and concise terms. Start by outlining the key event—how they became the largest corporate holder of Ethereum by surpassing the Ethereum Foundation. Then, tie this to broader market dynamics, like the price rally and institutional support via ETFs, but avoid diving too deep into secondary details about other companies. Highlight SharpLink's strategic actions, such as leveraging staking and its leadership shift, while keeping the tone analytical. Keep the content tight, cutting out redundant data to ensure the piece maintains its flow and clarity.
SharpLink Overtakes Ethereum Foundation with 321K ETH Holdings
- SharpLink Gaming surpasses Ethereum Foundation after acquiring 321,000 ETH.
- Ethereum price surges 16% in five days, driven by record ETF inflows.
SharpLink Gaming (NASDAQ: SBET) has become the largest corporate holder of Ethereum, overtaking the Ethereum Foundation with 321,000 ETH holdings. CoinDesk reported on July 17, 2025, that the company purchased an additional 20,279 ETH for approximately $68 million, showcasing a growing trend of institutional Ethereum accumulation. This milestone coincides with Ethereum’s price rally, largely fueled by robust demand and unprecedented inflows into spot exchange-traded funds (ETFs).
Ethereum ETFs recorded net inflows of $726.74 million on July 16—its single-day record—bringing July’s total inflows to $2.27 billion. Notably, BlackRock’s ETHA fund contributed heavily, registering $499 million in inflows that day. As institutional buyers increasingly accumulate Ethereum, the cryptocurrency’s price has surged over 16% in five days, trading around $3,410. Institutional holdings now represent more than 4% of Ethereum’s circulating supply, adding momentum to market optimism.
SharpLink Gaming’s Ethereum strategy began earlier this year with the unveiling of a strategic reserve plan in May 2025, led by Joseph Lubin, co-founder of Ethereum and SharpLink’s newly appointed chairman. Over the past two months, the company has rapidly expanded its holdings through multiple purchases, including transactions via Coinbase for 9,425 ETH and 10,854 ETH. A portion of SharpLink’s Ethereum reserves has been staked to generate returns, further boosting confidence among investors. Reflecting this sentiment, SharpLink’s stock surged 113% in one week, closing at $37.38 on July 16.
Other corporations are also diving into Ethereum. GameSquare Holdings (NASDAQ: GAME) recently announced plans to raise $70 million to enhance its Ethereum reserves, targeting yield opportunities through a partnership with an asset manager. Meanwhile, Bitmine has added 163,000 ETH to its wallet after securing $250 million in private funding and support from tech investor Peter Thiel. These moves reinforce Ethereum’s growing reputation as a valuable corporate asset, bolstered by institutional investment in ETFs.
As of July 17, 2025, 18:18 UTC, Ethereum (ETH) is trading at $3,428.66, reflecting a 2.53% increase in daily trading volume, according to CoinMarketCap.
