SharpLink Gaming has expanded its cryptocurrency assets, becoming one of the leading holders of Ethereum with an unrealized profit of $941 million.
Overview of SharpLink's ETH Situation
In August 2025, SharpLink Gaming (SBET) reported that its Ethereum (ETH) reserves exceeded 740,000 units. The company’s unrealized profit stands at approximately $941 million, positioning it as a leader in corporate ETH assets.
Shift to a Cryptocurrency-Focused Strategy
Under the leadership of Co-CEO Joseph Chalom, SharpLink Gaming has shifted its focus from traditional gaming to cryptocurrencies. The company has ambitious plans to implement an ETH treasury strategy, highlighting the importance of Ethereum as a key financial asset. With $537 million raised through an 'At-the-Market' mechanism, the firm has been able to maintain systematic ETH purchases. This may also affect global ETH supply by reducing liquidity.
Future of Corporate Treasury Management
SharpLink’s treasury strategy shares similarities with previous large-scale cryptocurrency acquisitions, such as MicroStrategy’s BTC accumulation. However, the focus on ETH introduces new dimensions to corporate crypto strategies. The activation of the SBET token for DeFi on Injective underscores the company's intention to integrate financial products into blockchain systems. Despite the lack of regulatory comments, SharpLink demonstrates transparency through its NASDAQ listing and timely SEC disclosures.
SharpLink Gaming's approach illustrates potential changes in corporate treasury management strategies regarding cryptocurrencies and highlights the growing interest in Ethereum as a core asset in the financial system.
