- SharpLink purchased 10,000 ETH at an average price of $1,611 per ETH.
- Total Ethereum holdings increased to 886,725 ETH.
- The company raised $75 million through a registered direct offering completed last week.
- SharpLink repurchased 2.13 million shares, bringing total buybacks since August 2025 to more than 4.07 million shares.
SharpLink Expands Ethereum Treasury
SharpLink (Nasdaq: SBET) announced on June 30 that it purchased 10,000 Ethereum at an average price of approximately $1,611 per coin, increasing its total ETH holdings to 886,725 as of the week ending June 28, 2026. The acquisition follows the company’s recently completed $75 million registered direct offering of common stock and warrants, which was announced last week to support additional ETH purchases and corporate initiatives.
The company’s Ethereum treasury now consists of 632,719 native ETH, 181,299 ETH represented through LsETH, and 72,707 ETH represented through weETH. According to SharpLink, the latest purchase reflects its ongoing strategy of treating ETH as a long-term treasury reserve asset.
At the time of writing (1:16 p.m. UTC), Ethereum (ETH) traded at $1,557.63, down 1.65% over the past 24 hours. On a weekly basis, ETH was down 5.57%, reflecting continued short-term bearish momentum.
Share Buyback Continues Alongside Treasury Strategy
Alongside its latest cryptocurrency purchase, SharpLink repurchased 2,132,773 shares of common stock in the open market at an average price of $4.69 per share. The latest transaction brings total share repurchases to 4,071,223 shares since the company launched its buyback program in August 2025.
Commenting on the update, Chief Executive Officer Joseph Chalom said:
The successful completion of our $75 million registered direct offering last week has strengthened our balance sheet and provided the capital to support our active ETH treasury management strategy. He added that the company’s capital allocation decisions remain focused on increasing ETH per share over the long term.
Latest Move Follows Recent ETH Accumulation
The latest acquisition comes days after SharpLink resumed buying Ether following an extended pause, continuing its strategy of expanding one of the world’s largest corporate ETH treasuries. The company has increasingly positioned Ethereum as its primary treasury reserve asset while using equity financing and share repurchases as part of its broader capital allocation strategy.
SharpLink (NASDAQ: SBET) closed at $4.92 on June 29, unchanged from the previous session. In pre-market trading, the stock fell 2.64% to $4.79 as of 9:19 a.m. ET, reflecting renewed selling pressure ahead of the market open.
