SharpLink has made a significant acquisition, becoming the largest public holder of Ethereum, highlighting the growing interest in digital assets among institutional investors.
SharpLink's Purchase and Its Significance
SharpLink has acquired 176,271 ETH for approximately $463 million, making it the largest public owner of Ethereum. This deal was confirmed by analytical data from CryptoQuant. Currently, the value of SharpLink's treasury is estimated at $446.2 million depending on market price.
Corporate Adaptation of Ethereum
SharpLink's purchase is part of a new Ethereum-centered reserve plan introduced on May 27. The company's stock surged 400% on the day and quickly increased by 2100% over the week. Over 95% of acquired assets are already staked for yield.
Rising Interest from Institutional Investors
Increased purchases of Ethereum are also being observed among other large institutional investors, such as BlackRock, which acquired $240 million worth of ETH in the first days of June. Data from Santiment shows that addresses with balances between 1,000 and 100,000 ETH increased their holdings by 1.49 million ETH over the last month, indicating significant redistribution between small holders and large investors.
SharpLink's acquisition of Ethereum underscores the growing interest of large capital in digital assets, with institutional investments continuing to show confidence in Ethereum's future.
