Ethereum Touted as ‘Foundational Layer for Global Finance’ by Firm With $500M ETH Bet

SharpLink Gaming Adopts Ethereum as Primary Treasury Asset

SharpLink Gaming (SBET), a leader in AI-driven sports betting and iGaming, has become the first publicly listed company to adopt Ethereum (ETH) as its primary treasury reserve asset. The firm aims to leverage ETH’s productivity, security, and DeFi composability to enhance shareholder value.

Key Developments

• Treasury Strategy: SharpLink is accumulating ETH, staking it, and deploying yield strategies to grow ETH-per-share.
• $500M ETH Bet: Acquired 198,478 ETH (~$500M) by July 1, 2025, with 100% staked, yielding 220+ ETH in rewards.
• Backing from Consensys: A $425M private placement led by Consensys funded the initial ETH purchases. Ethereum co-founder Joseph Lubin joined SharpLink’s board as Chairman.

Market Impact & Technicals

• ETH traded at $2,505 (up 0.56% in 24h), with bullish momentum from late June.
• Key support at $2,480–$2,500; resistance near $2,530.

Strategic Vision

SharpLink’s move bridges sports betting, DeFi, and corporate finance, offering investors regulated exposure to ETH’s growth while innovating iGaming. CEO Rob Phythian will mark the shift at a Nasdaq bell ceremony on July 7, 2025.

Disclaimer: AI tools assisted in drafting this article, reviewed by CoinDesk’s editorial team.