SharpLink Buys 10,000 ETH Directly From Ethereum Foundation

SharpLink quietly scooped up ETH from the Ethereum Foundation days before a price surge, locking in tens of millions in paper gains.

(Photo of Kanchanara on Unsplash)

Posted July 14, 2025 at 10:08 am EST.

The Ethereum Foundation sold 10,000 ETH to SharpLink Gaming in a direct over-the-counter (OTC) deal valued at $25.7 million, with the transaction executed at an average price of $2,572.37 per ETH and settled on July 10.

“This sale funds the EF’s [Ethereum Foundation] core operations & activities, including protocol R&D, ecosystem development, community grant funding and more,” said the Ethereum Foundation on X.

SharpLink, which trades on Nasdaq under the ticker SBET, positions ETH as its primary treasury reserve asset. It is also the first publicly traded company to have acquired ETH directly from the Ethereum Foundation.

This story is an excerpt from the Unchained Daily newsletter.

Subscribe here to get these updates in your email for free

The deal was completed just before ETH surpassed $3,000 last week, meaning SharpLink acquired the ETH at a notable discount to the prevailing market price.

Onchain data shows that SharpLink acquired another $48.5 million worth of ETH on Sunday, bringing the firm’s total holdings to 270,000 ETH, with an unrealised profit of $81.8 million.