SharpLink Becomes First Public Company to Adopt Ethereum as Treasury Asset

SharpLink Gaming Inc. (NASDAQ: SBET), a leading sports betting and iGaming marketing firm, has made headlines by becoming the first publicly listed company to adopt Ethereum (ETH) as its primary treasury reserve asset. The Minneapolis-based firm announced on July 4, 2025, that it will not only hold ETH but actively stake and deploy it within Ethereum-based yield protocols to enhance long-term shareholder value.

The move follows a $425 million private placement in May, led by Consensys and other major crypto investors. As part of the deal, Ethereum co-founder and Consensys CEO Joseph Lubin joined SharpLink’s board as Chairman. Since launching its ETH strategy in early June, SharpLink has accumulated 198,478 ETH—worth over $500 million—at an average price of $2,626, and has already earned over 220 ETH in staking rewards.

SharpLink's strategy redefines traditional corporate treasury management by leveraging ETH's productive and composable qualities across decentralized finance (DeFi). The company sees ETH not just as a digital asset but as a future-proof financial infrastructure, citing its scarcity, security, and yield potential via staking.

CEO Rob Phythian emphasized that this shift signals a new era in corporate finance, one where digital assets can coexist with regulatory compliance and capital market discipline. SharpLink will celebrate this transformation with a Nasdaq closing bell ceremony on July 7.

At the time of writing, ETH is trading near $2,505, up 0.56% over the last 24 hours, according to CoinDesk. Technical indicators show support around $2,480–$2,500, with resistance near $2,530. While short-term momentum is neutral, ETH remains in a bullish trend since late June, supported by increased institutional interest.