SharpLink Buys 19K ETH, Treasury Hits $3.5 Billion

SharpLinks latest purchase places it second among corporate Ethereum holders, behind . Data from Strategicethreserve.xyz shows that 69 public and private companies now hold a combined 5.74 million ETH, worth around $23 billion.

This figure represents nearly 4.75% of Ethereums circulating supply. SharpLink alone accounts for about 0.69%, while BitMine owns over 2.74%. Industry data also shows that 95% of these corporate purchases occurred this quarter.

Ethereum‘s appeal lies not only in price speculation but also in its ability to generate staking rewards. By locking ETH into Ethereum’s proof-of-stake network, companies can earn steady returns while supporting the network.

SharpLink has already earned 5,671 ETH in staking rewards since June, worth about $23.25 million. That includes 326 newly minted rewards and 132 from LsETH derivatives during the latest week alone.

BitMine Boosts ETH Treasury to $13 Billion

BitMine Immersion Technologies, the largest corporate Ethereum holder, also took advantage of the recent dip. The firm purchased another $250 million worth of ETH on Monday, raising its total stash to around 3.24 million tokens.

At current prices, thats more than $13 billion in value.

BitMines chairman Tom Lee, the current “price dislocation represents an attractive risk/reward.” Its holdings now make up 2.74% of the entire Ethereum supply, bringing it closer to its target of owning 5% of all ETH in circulation.

SharpLinks Treasury Strategy Pays Off

SharpLink launched its Ethereum treasury strategy in June and became the first publicly traded company to centre its reserves on Ether.

It began with a $425 million private investment in public equity and has since expanded its holdings through additional raises.

The company‘s stock has surged by over 450% in the past six months according to Yahoo Finance. Analysts attribute much of that rise to investor confidence in SharpLink’s Ethereum-based balance sheet approach.

SharpLink also maintains about $36.4 million in cash and equivalents, and has enough flexibility for more buys.

By converting part of its treasury into staking assets, SharpLink is generating income through rewards, while strengthening its .

Institutional Interest Strengthens Despite Market Weakness

While Ethereums price has fallen around 12% this month, large investors seem to be unfazed.

Data from Bitwise shows that nearly all Ether held by public companies was bought this quarter. Many institutions are buying the dip as they expect more demand for staking and on-chain finance.

Ethereum was trading at around $3,960 at press time, and is down 0.7% over 24 hours. Analysts are linking the recent drop to macroeconomic tensions, including President Donald Trumps plan to impose 155% tariffs on Chinese goods starting November 1.