SharpLink To Raise $400M, Aiming For $3B Ethereum Treasury And 1% Of ETH Supply

by Murtuza J Merchant Benzinga Staff Writer

Zinger Key Points

Corporate ETH accumulation is accelerating, with companies potentially holding 10% of Ethereum’s total circulating supply in the near term.
SharpLink currently holds 598,800 ETH, valued over $2.5 billion, with plans to expand holdings to 1.2 million ETH.
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SharpLink Gaming SBET has unveiled plans to raise an additional $400 million to bolster its Ethereum ETH/USD holdings, targeting a total treasury exceeding $3 billion in the near term.

What Happened: The online gambling marketing company said it will sell shares at $21.76 each to five institutional investors, with the transaction expected to close on Tuesday, Aug. 12, pending final approvals.

Co-CEO Joseph Chalom highlighted the pace of recent capital inflows, noting the firm secured nearly $900 million over the past week.

He described the rapid fundraising as a sign of growing investor confidence and a recognition of Ethereum's expanding role in the digital economy.

SharpLink shares experienced sharp intraday swings Monday, opening near $24, briefly spiking to $28, and closing down 6.6% at $22.34. Despite the pullback, the stock remains up more than 17% over the past week.

The fundraising push comes amid a surge in Ethereum's price and a wave of corporate accumulation.

Also Read: Circle Announces Stablecoin Payment Blockchain Arc

Why It Matters: Companies such as BitMine BMNR, EtherMachine, and Bit Digital BTBT now collectively control several billion dollars' worth of ETH, with some analysts estimating corporate treasuries could soon hold 10% of the total circulating supply.

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Ethereum is up 13.5% over the past week and more than 43% in the last month, putting it within 13% of its all-time high of $4,878, according to CoinGecko data.

The rally follows a prolonged period of underperformance for ETH despite broader crypto market gains.

On prediction platform Myriad, over three-quarters of users expect Ethereum to set a new record price before year-end.

SharpLink has set a goal of owning 1% of Ethereum's supply, currently more than 1.2 million ETH.

As of Aug. 10, the company held 598,800 ETH valued at over $2.5 billion.

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