SharpLink, Inc. has added another 10,000 ETH to its corporate treasury, bringing its total ether holdings to 886,725 ETH as of June 28, 2026.
According to the company’s statement, the recent acquisition occurred at an average price of approximately $1,611 per ETH, which equates to approximately $16.1 million for the company.
The company’s latest update is also its first confirmed ether purchase in about eight months. The announcement came after on-chain analyst EmberCN said last week that Arkham data showed 5,000 ETH moving to SharpLink from FalconX, although the company had not verified that transfer at the time.
The Miami-based company described itself as one of the world’s largest corporate holders of ether and said the new purchase fits its long-term treasury plan. The update also marks SharpLink’s first confirmed public ETH purchase in months, after on-chain watchers had already pointed to renewed accumulation activity last week.
SharpLink’s total ETH balance now includes 632,719 native ETH, 181,299 ETH as-if redeemed from LsETH, and 72,707 ETH as-if redeemed from weETH. That mix shows that part of the company’s treasury sits in liquid staking products, rather than only in native ether wallets.
Share buyback runs alongside ETH purchase
SharpLink also repurchased 2,132,773 common shares in the open market at an average price of $4.69 per share. The company said the move formed part of its ongoing stock buyback plan, which began in August 2025.
Since launching that program, SharpLink has bought back 4,071,223 shares in total. The latest buyback came during the same week in which the company raised $75 million through a registered direct offering of common stock and warrants.
SharpLink said the financing gave it more room to support its active ETH treasury plan. The company has tied its capital decisions to one main measure: increasing ETH exposure per share.
“The successful completion of our $75 million registered direct offering last week has strengthened our balance sheet and provided the capital to support our active ETH treasury management strategy. Our capital allocation philosophy is disciplined and straightforward: every financing decision we make is based on our long-term objective to increase ETH per share,” Joseph Chalom, CEO of SharpLink, said.
SharpLink adds ETH as price pressure continues
The timing of the purchase comes as Ethereum remains under pressure on the market. According to The Coin Headlines’ Ethereum price page, ETH traded near $1,570 at the time of writing, down 0.56 percent over 24 hours. The asset was also down 5.52 percent over seven days and 21.74 percent over 30 days.
SharpLink shares also traded lower after the update. SBET was recently at $4.78, down 2.95 percent on the day, with intraday trading between $4.72 and $4.89 (per Google Finance data). The stock’s market value stood near $1.01 billion.
Crypto analyst Jesse Olson said on X that ETH’s monthly chart was close to printing a lower low, with price closing below monthly support.
He also said eight of the last ten monthly candles had been red. His post added to debate over whether Ethereum’s weak price action could weigh on treasury firms that keep adding exposure.
SharpLink’s approach remains different from traders focused on short-term price moves. The company has framed ETH as a long-term reserve asset and has continued to link its strategy to treasury growth, staking, and ETH per share.
Ethereum treasury activity grows
SharpLink’s purchase comes as other corporate ETH buyers remain active. Previously, we covered BitMine’s latest Ethereum dip-buying, when the Tom Lee-led firm added 27,084 ETH during a wider market selloff. That report said BitMine’s ETH holdings had climbed to about 5.7 million ETH, making it the largest corporate Ethereum buyer by a wide margin.
SharpLink remains the second-largest Ethereum treasury company behind BitMine. Its latest purchase is smaller than BitMine’s recent additions, but the firm’s holdings still place it among the most visible public-market vehicles tied to ETH.
As previously reported by The Coin Headlines, SharpLink and Galaxy also moved to launch the Galaxy SharpLink Onchain Yield Fund, a $125 million vehicle aimed at putting staked ETH into institutional DeFi strategies.
Moreover, SharpLink planned to provide $100 million to the fund, while Galaxy would contribute $25 million and manage the strategy.
The fund showed that SharpLink’s ETH plan is not limited to holding the asset. The company has also looked for ways to earn yield from its treasury while managing risk through outside asset-management support.
What comes next for SharpLink
The company’s latest update gives investors more detail on how the company plans to use new capital. It raised money, added ETH, and bought back shares in the same reporting week. The company said this combination supports its goal of raising ETH exposure per share.
The strategy still depends heavily on Ethereum’s market path. Lower ETH prices can reduce the value of the company’s treasury and may affect how investors price its stock.
At the same time, lower prices may allow treasury firms to increase holdings at a lower average entry price.
SharpLink’s own forward-looking statement warned that ETH volatility can affect its accounting and financial reporting. The company said changes in the fair value of crypto assets could lead to fluctuations in its balance sheet and income statement.
