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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid a growing trend of companies diversifying their treasuries into digital assets, Sharplink (SBET) announced it purchased 10,000 Ether at an average price of $1,611 per Ether, according to a press release. The company said its total Ether holdings rose to 886,725. It also repurchased 2,132,773 shares of its common stock in the open market at an average price of $4.69 per share.
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Sign InThe announcement comes as investors focus on corporate capital allocation strategies. SBET shares closed at $4.92 on June 29, above the buyback average, indicating the repurchases were executed at lower levels. The significant Ether accumulation underscores the company's commitment to crypto exposure, reinforcing its profile as a digital-asset focused firm.
At the June 29 close, SBET traded at $4.92, with a daily range of $4.58–$4.97. Investors may monitor the impact of Ether price moves on the company's holdings, as well as any further updates on the buyback program or additional crypto acquisitions. Ether-based exchange-traded funds remain a potential catalyst to watch.