SharpLink Acquires $48.85M in Ethereum Through Galaxy OTC

SharpLink Gaming Inc. has made a significant purchase of 16,373 ETH, valued at $48.85 million, through Galaxy OTC, reinforcing its strategic focus on Ethereum as a primary treasury asset.

The acquisition highlights the growing institutional interest in cryptocurrency assets, specifically Ethereum. The purchase has contributed to market stability and further solidified SharpLink’s commitment to a crypto-centric treasury strategy.

SharpLink Gaming, guided by Ethereum co-founder Joe Lubin, has demonstrated a robust Ethereum treasury focus. Recent purchases include over $600 million in ETH acquired via OTC desk Galaxy Digital. The company adopted its Ethereum-centric treasury approach in 2025.

ETH witnessed a 17.75% price rise over a week. Analysts believe the institutional interest could maintain this upward pressure, potentially boosting related assets like GLXY and SBET.

“In a strategic pivot, SharpLink has taken bold steps by adopting Ethereum as its primary treasury reserve asset,” said Joe Lubin, Chairman of SharpLink Gaming.

This move, aligning SharpLink with other major firms adopting cryptocurrency reserves, precedes significant trust in Ethereum’s role as a store of value. The Ethereum Foundation facilitated part of the acquisition, highlighting substantial crypto-philanthropy.

Market responses reflect optimism, anticipating Ethereum’s increased relevance in institutional treasuries. Historically, large-scale crypto acquisitions lead to attention on blockchain technologies, impacting ETH-based governance tokens and smart contract platforms.

Reflecting historical trends, SharpLink’s acquisition may inspire shifts in corporate treasury strategies, with potential regulatory discussions around digital currency reserves. Regulatory insights and expert analyses are awaited as the impact unfolds.