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Gaming Company Makes History Investing $463M in Ethereum, Becomes Largest Publicly-Traded ETH Holder
- Gaming company SharpLink has invested $463 million in Ethereum at an average price of $2,626 per ETH.
- This investment makes SharpLink the second-largest publicly-traded ETH holder, behind only the Ethereum Foundation.
- SharpLink's CEO, Rob Phythian, views Ethereum as the core infrastructure for future digital commerce and decentralized applications.
- Over 95% of SharpLink's ETH holdings are actively staked or deployed in liquid staking protocols, contributing to Ethereum's network security and earning native yield.
- The company raised approximately $79 million through its $1 billion equity program, with the majority used for ETH purchases.
- Ethereum co-founder Joseph Lubin, also SharpLink's chairman, praised the institutional commitment to Ethereum, highlighting its importance in advancing digital asset legislation.
- SharpLink's aggressive ETH positioning aims to provide shareholders economic exposure to Ethereum and promote institutional focus on ETH-based yield strategies.
- Since their token accumulation, SharpLink's ETH-per-share metric has grown by 11.8%, indicating positive growth.
- As regulatory clarity increases and more institutions explore blockchain integration, SharpLink's move may set a precedent for public companies in digital asset allocation.
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