SharpLink Adds $295M in Ethereum, Taps BlackRock Veteran as Co-CEO

SharpLink Gaming has acquired an additional 77,210 ETH worth $295 million over the weekend, expanding its cryptocurrency treasury to 438,017 ETH valued at $1.69 billion, according to blockchain analytics firm Lookonchain.

The weekend purchase continues SharpLink's aggressive Ethereum accumulation strategy, with the company positioning itself as one of the largest corporate holders of the cryptocurrency. More than 95% of the company's ETH holdings are actively staked or deployed through liquid staking platforms, generating additional yield on the treasury position.

On-chain data shows SharpLink Gaming transferred 145 million USDC to Galaxy Digital two days prior to the purchase. Galaxy Digital subsequently withdrew 38,600 ETH valued at $148 million from Binance before transferring the tokens to SharpLink.

The acquisition follows SharpLink's massive 360,807 ETH purchase worth approximately $1.33 billion last week, cementing the gaming company's position ahead of other corporate Ethereum holders including Coinbase and Bit Digital, among others.

SharpLink emphasized the always-available nature of cryptocurrency markets in announcing the weekend purchase. "Banks close on weekends, while Ethereum runs 24/7," the company stated Sunday while promoting the transaction.

SharpLink's treasury expansion reflects broader institutional interest in Ethereum staking, which allows holders to earn yields while supporting network security. The company's strategy of actively staking its holdings differentiates it from other corporate treasury approaches focused purely on price appreciation.

Ethereum traded at $3,880 at publication time, up 2.65% over the past 24 hours, as the cryptocurrency continues demonstrating resilience amid broader market volatility.

BlackRock Executive Joins as Co-CEO

Alongside its treasury expansion, SharpLink announced the appointment of Joseph Chalom as co-CEO. Chalom joins from BlackRock, where he served as head of digital assets strategy for two decades and helped launch several major cryptocurrency investment products.

The executive moves highlight the growing institutional adoption of Ethereum as traditional finance veterans transition to crypto-focused roles.

During his tenure at the asset management giant, Chalom played key roles in launching IBIT, BlackRock's Bitcoin ETF with over $87 billion in assets under management, and ETHA, the firm's Ethereum ETF managing more than $10 billion. He also contributed to the development of BUIDL, described as the first tokenized Treasury fund on Ethereum.

"Chalom's appointment marks a major milestone in our mission to build the most trusted Ethereum treasury and bring Ethereum to the center of global finance," SharpLink said in a statement.