The Ethereum Foundation sold 10,000 ETH to SharpLink Gaming as part of its treasury management strategy, marking a significant event in the crypto market.
ETH Sale from Ethereum Foundation
The Ethereum Foundation completed a transaction selling 10,000 ETH to SharpLink Gaming at an average price of $2,572.37 per ETH. This purchase represents the largest direct ETH acquisition by a publicly traded company for treasury purposes.
Market Reaction to the Deal
Following the announcement, SharpLink Gaming's stock surged by 50%, indicating a positive market perception of the deal. Joseph Lubin, Chairman of SharpLink, stated that the transaction supports Ethereum's long-term decentralization goals.
Future of Ethereum and Its Institutional Support
According to the latest data from CoinMarketCap, Ethereum (ETH) was trading at $2,997.67 on July 11, 2025, with a market cap of approximately $361.87 billion. By making such purchases, SharpLink Gaming supports Ethereum's central role in blockchain technology and demonstrates confidence in its future integration into traditional finance sectors.
Thus, the ETH sale from the Ethereum Foundation to SharpLink Gaming marks an important step in strengthening Ethereum's position in the financial market and confirms the interest of institutional investors.
