- SharpLink Gaming moved 2,993 ETH (~$7.3 M) to Coinbase Prime.
- Firm now holds 188,478 ETH in treasury, staking for yield.
- Strategic move underscores confidence in Ethereum’s future.
SharpLink Gaming, a leading name in iGaming and sports betting, has deposited 2,993 ETH, valued at approximately $7.28 million, into its Coinbase Prime account. This transfer reflects the company’s growing confidence in Ethereum and strengthens its position as a major corporate ETH holder.
This move is part of a broader strategy. SharpLink recently acquired 188,478 ETH at an average price of $2,513 per ETH, totaling nearly $473.6 million in value. Transferring the latest portion to Coinbase Prime suggests a focus on enhanced security, institutional custody, and staking benefits.
A Strategic Financial Shift
The company has been actively converting equity into crypto. It raised around $27.7 million through stock sales and used those funds to buy an additional 12,207 ETH in June alone. This bold strategy positions SharpLink as the largest publicly traded holder of Ethereum globally.
All their Ethereum is currently staked, allowing the company to earn passive income while contributing to the Ethereum network’s security. Since starting this ETH strategy on June 2, SharpLink has already earned 120 ETH in staking rewards.
Why This Matters for the Market
SharpLink’s decision to manage its crypto treasury through Coinbase Prime highlights the increasing role of institutional-grade platforms. This trend suggests a future where more companies may view digital assets like Ethereum as serious long-term investments.
This deposit not only boosts SharpLink’s crypto profile but also sends a strong message about Ethereum’s growing credibility in corporate finance.
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