SharpLink(SBET) made a massive investment of 290 million USD in a single week to increase their holdings by 77,000 ETH! This makes them the largest publicly listed company by Ethereum holdings in the world.

Nasdaq-listed company SharpLink Gaming (SBET) continues its aggressive Ethereum treasury strategy, with the latest disclosure showing its ETH open interest has reached 438,190 coins (as of July 27), worth approximately $1.65 billion, making it the publicly traded company holding the most Ethereum in the world. The company spent about $290 million to purchase 77,209.58 ETH in the week of July 21-27, at an average price of $3,756, with holdings increasing by 21% compared to the previous week. SharpLink raised over $850 million through ATM stock issuance to support its coin purchase actions, with 95% of its ETH already participating in stake or liquid staking. Following the appointment of former BlackRock digital asset strategist Joseph Chalom as co-CEO on July 24, the company's stock price surged 110% in the month, reflecting strong market confidence in its Ethereum ecosystem strategy.

Open interest surged: 77,000 ETH bought in a single week SharpLink Gaming, a Nasdaq-listed company known for its bold Ethereum accumulation strategy, confirmed that as of July 27, 2025, its Ethereum holdings have reached approximately 438,190 ETH. Only during the week from July 21 to 27, the company spent about $290 million to acquire 77,209.58 ETH, with an average purchase price of $3,756. This has led to a 21% surge in its ETH holdings compared to the previous week's 360,807 ETH, continuing its aggressive digital asset allocation strategy that started in early June.

Staking Yield and Open Interest Surge While continuously buying, SharpLink's Ethereum staking rewards have been steadily increasing. In the week ending July 27, its staking rewards increased by 200 ETH (0.2K ETH). Since the launch of this strategy on June 2, its cumulative staking rewards have reached 722 ETH.

What is more noteworthy is that the "ETH concentration" indicator, which measures the weight of ETH in the overall capital structure of the company, has surged to 3.40, a significant increase from 3.06 in the previous week, and has accumulated a rise of as much as 70% since the strategy was launched, highlighting Ethereum's core position in its asset allocation.

ATM financing support for coin purchase: $279 million in a single week To support its large-scale Ethereum purchasing efforts, SharpLink raised up to $279.2 million in net proceeds through its market ATM stock mechanism during the week of July 21 to 25. In that week alone, the company issued 10.8 million shares. In the previous week (July 14-18), it also issued 3.8 million shares, reflecting the growing interest and confidence of investors in its unique digital asset strategy.

(Data source: cryptonews)

Since the beginning of July, SharpLink has raised over $850 million through ATM issuance. This strong financing capability enables it to continuously purchase Ethereum without overly relying on external financing or leverage, providing solid support for a long-term holding strategy.

Former BlackRock Executive at the Helm, Strategic Vision Upgraded What injects strong momentum into the company's strategic transformation is that former BlackRock digital asset strategist Joseph Chalom officially took office as co-CEO of SharpLink on July 24. When discussing the reasons for joining, Chalom stated:

"I see a strong opportunity to shape the future financial infrastructure and decentralized finance (DeFi). SharpLink is committed to aligning its strategic direction with the Ethereum ecosystem, which highly resonates with my passion for driving digital asset innovation and transforming the global financial system. I am honored to lead SharpLink into the next phase of development."

The largest publicly listed Ethereum holder in the world According to the latest data from the analysis platform CoinGecko, SharpLink Gaming has now become the publicly listed company with the most Ethereum in the world, with its publicly disclosed holdings of 438,190 ETH (approximately $1.65 billion at current market price) far surpassing its peers.

What sets SharpLink apart is not only its large ETH treasury size but also its efficient asset utilization. Company reports indicate that over 95% of the Ethereum it holds is either staked or deployed through liquid staking platforms, maximizing asset returns.

$SBET stock price skyrocketed by 110% this month, market expectations are high The stock code $SBET of SharpLink has performed exceptionally well in the past month, with the stock price soaring by 110.73%, closing at $20.92 at the time of writing. Its stock price has climbed from around $10 at the beginning of July to surpassing $35 at one point in mid-July, indicating strong market attention and positive expectations regarding its strategy, possibly driven by strong fundamentals or optimistic sentiment about future developments. Although the stock price has retreated from its peak, it remains well above the early July levels.

Conclusion: SharpLink(SBET) has established its absolute leading position in the field of listed company Ethereum investment with a nearly $300 million buying spree in a single week and over 438,000 ETH in Holdings. Its "buy + high proportion stake" strategy, combined with an efficient ATM financing mechanism, has created a unique capital operation model. The joining of former BlackRock executives further strengthens the strategic credibility, driving the stock price to double within the month. However, as its ETH Holdings concentration continues to rise (reaching 3.4), the correlation between the company's performance and Ethereum price fluctuations will significantly increase. Whether SharpLink can convert its massive Ethereum reserves into a sustainable profit model and fulfill its vision of reshaping financial infrastructure will be the focus of ongoing market tracking. Investors also need to pay attention to the dilution effect of its continuous stock issuance on equity and the inherent volatility risks of the cryptocurrency market.