The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
SharpLink (Nasdaq: SBET) has deepened its crypto treasury strategy by purchasing 10,000 Ethereum at an average price of $1,611 per coin, bringing its total ETH holdings to 886,725. The acquisition was funded by the company's recently completed $75 million registered direct offering, which was earmarked for additional digital asset purchases and corporate initiatives.
The expansion comes amid a volatile Ethereum market, with the cryptocurrency trading near $1,650 as of June 30, 2026, slightly above SharpLink's average purchase price, per market data. SBET shares closed at $4.92 on June 29, recovering from an intraday low of $4.58. The hefty holdings place SharpLink among the most prominent institutional Ethereum holders.
Investors will watch whether SharpLink continues to deploy the remaining proceeds from its direct offering toward further crypto acquisitions. The stock's current range—between $4.97 (high) and $4.58 (low) in the last session—may see movement tied to Ethereum's price action. No major company-specific catalysts are on the near-term calendar, leaving broader crypto market trends as the primary driver for SBET.
Sign in to access this content
Sign In