SharpLink Gaming Stock Tanks On $462M Ethereum Acquisition: Retail Rushes In To Buy The Di
June 13, 2025
Shares of SharpLink Gaming Inc. (SBET) slumped over 66% on Friday after the company announced the acquisition of 176,270.69 ETH for $462.9 million.
The purchase positions the company as the largest publicly traded holder of Ethereum globally, second only to the Ethereum Foundation, it added.
This acquisition was facilitated through a private investment in public equity (PIPE) offering, raising $425 million, with an additional $79 million secured through its at-the-market (ATM) facility.
“We believe Ethereum is foundational infrastructure for the future of digital commerce and decentralized applications. Our decision to make ETH our primary treasury reserve asset reflects deep conviction in its role as programmable, yield-bearing digital capital,” said CEO Rob Phythian.
These combined purchases have led to an 11.8% increase in Ethereum per share since June 2, 2025.
SharpLink Gaming said that over 95% of its Ethereum holdings are actively deployed in staking and liquid staking solutions, contributing to the security and efficiency of the Ethereum network while generating native yield.
“It comes at a unique time when the United States Congress is moving toward passing significant stablecoin and digital asset market structure legislation,” said Chairman of SharpLink Gaming, Co-Founder of Ethereum and Founder and CEO of Consensys, Joseph Lubi.
SharpLink claims it is the first Nasdaq-listed company to adopt a treasury reserve policy centered on Ethereum.
This initiative aims to provide shareholders with exposure to Ethereum’s value appreciation.
On Stocktwits, retail sentiment toward SharpLink Gaming has changed to ‘bullish’ from ‘bearish’.
A Stocktwits user said they believe in the stock and the ecosystem.
Another user pointed to significant accumulation at current levels.
SharpLink Gaming stock has gained over 41% year-to-date and over 3% in the last 12 months.
Also See: Curiosity’s New Global Content, AI Licensing Deals Fail To Lift Retail Mood
For updates and corrections, email newsroom[at]stocktwits[dot]com.
Search
RECENT PRESS RELEASES
Related Post
