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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
07/01/2026

Sharplink Adds 10,000 ETH to $1.38B Treasury as ETH Trades 68% Below Peak

What happened: Sharplink Gaming (SBET) purchased 10,000 ETH at an average price of $1,611 (totaling $16.

Sharplink Adds 10,000 ETH to $1.38B Treasury as ETH Trades 68% Below Peak

What happened: Sharplink Gaming (SBET) purchased 10,000 ETH at an average price of $1,611 (totaling $16.1 million) in its first crypto buy of 2026, bringing its total ETH holdings to 886,725 tokens, valued at approximately $1.38 billion. The purchase was funded by a $75 million direct offering and coincided with a $345 million outflow from ETH ETFs.

Why it matters: Sharplink’s move highlights the growing role of treasury companies in absorbing market supply as institutional flows recede. However, this demand is not yet sufficient to reverse the broader trend of outflows from major ETFs, underscoring a shift in the composition of crypto market participants.

Source: Decrypt