SharpLink, one of the largest corporate holders of Ethereum, has announced a significant increase in its reserves, now totaling 438,190 ETH.
SharpLink's Reserves and Their Growth
SharpLink currently holds 438,190 ETH. At the current price of $3,849, this places the company's holdings at approximately $1.687 billion. This update follows the firm's latest acquisition of 77,210 ETH, valued at about $295 million.
Strategy and Investments
SharpLink is utilizing equity issuance and staking to grow its Ethereum holdings. So far, the company has earned 722 ETH by operating validator nodes or through partnerships with other validators. In the week ending July 25, the firm raised $279.2 million through an at-the-market share issuance.
Institutional Interest in Ethereum
SharpLink's acquisitions reflect a growing institutional shift toward Ethereum. For example, Nasdaq-listed Bit Digital recently converted its treasury of 280 BTC into Ethereum. This interest has contributed to Ethereum's price rally, which is approaching $4,000. According to Shawn Young, Chief Analyst at MEXC Research, inflows for ETH ETFs are being driven by both whales and corporate treasury holders.
SharpLink continues to actively increase its holdings in Ethereum, following the growing trend of institutional investments in this cryptocurrency, which is gaining increasing recognition in the market.
