SharpLink Bets Big: $25.7M Ethereum Purchase Triggers ETH Rally Past $3,000

Another whale enters the crypto casino—this time with institutional-sized chips. SharpLink just dropped $25.7 million into Ethereum, sending ETH rocketing past the $3,000 psychological barrier. Wall Street analysts are already scrambling to downgrade their 'bubble' predictions.

The move signals growing confidence in ETH's infrastructure play—even as TradFi veterans mutter about 'greater fool theory' over martinis. Meanwhile, decentralized apps are quietly eating their lunch.

One thing's clear: when nine-figure checks start flying, the smart money stops pretending blockchain is 'just a fad.' Whether this pumps ETH to new highs or becomes another case study in crypto volatility? Place your bets.

SharpLink Gaming is turning heads this week after making one of its boldest crypto moves yet. The company, listed on Nasdaq under the ticker SBET, just bought 10,000 ETH from the ethereum Foundation. This isn’t just another crypto trade, it’s a strategic shift that could have a lasting impact on Ethereum’s future.

SharpLink Goes All In on Ethereum

Recently, SharpLink Gaming finalized the purchase of 10,000 ETH for $25.7 million on July 10, 2025, buying each ETH at $2,572.37. The transaction was made directly with the Ethereum Foundation, a rare move that highlights SharpLink’s strong commitment to the Ethereum ecosystem.

With this, SharpLink becomes the largest publicly traded company to adopt Ethereum as a primary treasury reserve asset. 

SharpLink Gaming (Nasdaq: SBET) announced today it has executed a direct purchase of 10,000 ETH (approximately $25.7 million) from the Ethereum Foundation at $2,572.37 per ETH, finalizing the transaction on July 10, 2025. https://t.co/wXZlDeNjuv

This step goes beyond profit; it’s about supporting the long-term growth and decentralization of the Ethereum network.

“This Isn’t a Trade, It’s a Commitment”

The statement from Joseph Lubin, Chairman of SharpLink and co-founder of Ethereum, made the message even clearer. He described this purchase not as a short-term bet, but as a serious commitment to Ethereum’s mission. 

According to him, SharpLink will acquire, stake, and re-stake ETH, helping reduce supply and strengthen the network.

In fact, this is not SharpLink’s first big ETH move. They also bought an additional 7,689 ETH at an average price of $2,501, bringing their total holdings to a massive 205,634 ETH.

ETH and SBET Price Surging

However, the news has impacted the Ethereum & SharpLink’s stock price (SBET) quickly. SBET price jumped over 8%, now trading around $19.90. At the same time, Ethereum’s price surged by 7%, climbing to just under $3,000.

Ethereum also broke past key resistance levels and touched $3,040 before slowing down.