US SharpLink Gaming purchases a large amount of ETH for 67 billion yen, becoming the world's second-largest Holdings company after the Ethereum Foundation.

2025-06-13 20:42:51

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## The world’s second-largest Holdings company

The U.S. Nasdaq-listed affiliate company SharpLink Gaming (SBET) announced that it has purchased 176,270.69 Ethereum (ETH) for approximately $463 million. This purchase makes the company the second largest holder of ETH in the world, following the Ethereum Foundation. Meanwhile, the stock price has plummeted by about 72% compared to the previous day.

According to data tracking service Arkham, the Ethereum Foundation holds 214,129 ETH. SharpLink CEO Rob Fiscian stated, “The decision to make ETH a primary financial reserve asset reflects a deep conviction in the role of ETH as programmable and yield-generating digital capital.”

On June 2, a private fundraising round led by Web3 infrastructure company Consensys raised $425 million. The funding involved ParaFi Capital, Electric Capital, Pantera Capital, Arrington Capital, Galaxy Digital, and Ondo Finance, supporting SharpLink’s maximum ETH Holdings strategy.

SharpLink raised an additional $79 million from a $1 billion stock issuance program between May 30 and June 12. The company has revealed plans to use these funds for further ETH purchases.

On the other hand, the company’s stock price plummeted by about 70% on June 12. This is attributed to the indication of the possibility of reselling 68 million shares of common stock in the documents submitted to the SEC.

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