The company pointed to regulatory progress, improving market conditions, and the growth of real-world asset tokenization as key long-term catalysts for Ethereum. Sharplink now holds approximately 876,285 ETH and ETH equivalents.
Sharplink Resumes Ethereum Buying
Sharplink resumed buying Ethereum for the first time in eight months. According to on-chain data from Arkham, a wallet linked to the company received 5,000 ETH, valued at approximately $7.85 million, from crypto prime brokerage FalconX. The purchase is Sharplink's first ETH acquisition since October of 2025.
ETH’s price action over the past week (Source: CoinCodex)
The timing of the purchase attracted attention because ETH declined to around $1,537, its lowest level in 2026. Andri Fauzan Adziima, Research Lead at Bitrue Research Institute, said the purchase shows that institutional conviction is still strong despite subdued market conditions. According to Adziima, companies still accumulate digital assets even while prices are under pressure, which indicates a long-term outlook rather than short-term speculation.
Sharplink's bullish stance on Ethereum has been consistent throughout the year. In May, Chief Executive Officer Joseph Chalom outlined three major catalysts that he believes could drive Ethereum’s price higher. The first is progress on the CLARITY Act in the United States. The legislation is still awaiting a Senate vote, while the House Financial Services Committee is scheduled to hold a hearing on the bill on July 17.
The second catalyst identified by Chalom is an improvement in overall market sentiment. He believes easing geopolitical tensions, combined with a cooling of the artificial intelligence investment boom, could encourage investors to return to higher-risk assets like cryptocurrencies.
The third factor supporting Sharplink’s outlook is the continued expansion of real-world asset tokenization. The sector experienced impressive growth over the past year, with tokenized real-world assets now representing approximately $31.55 billion in distributed asset value.
Sharplink originally operated as an affiliate marketing company serving the sports betting and gambling industries after its founding in 2019. However, the company shifted its focus in June of 2025 to become an Ethereum treasury company. The strategic transition was strengthened by the appointment of Consensys co-founder and CEO Joe Lubin as chairman.
Although Sharplink was once the largest publicly traded corporate holder of ETH, it was overtaken by Bitmine just two months after Bitmine launched its own Ethereum accumulation strategy. Despite losing the top position, Sharplink continued steadily expanding its holdings through both direct purchases and staking rewards.
The company now holds approximately 876,285 ETH and ETH equivalents, making it one of the largest institutional holders of Ethereum globally. However, competitor Bitmine reported holdings of approximately 5.67 million ETH after acquiring an additional 52,203 ETH last week.
