SharpLink (SBET) Raises Ethereum Treasury to 837,230 ETH ($3.6B) After Buying 39,008 ETH at ~$4,531

SharpLink (SBET), identified as the second-largest treasury holder in the Ethereum ecosystem, has expanded its position by acquiring 39,008 ETH at an average price near $4,531, bringing its total to 837,230 ETH—worth approximately $3.6 billion. The move represents a sizable treasury allocation within crypto balance sheets and is notable for market participants tracking institutional ETH accumulation.

Since its June 2 launch, SharpLink has recorded 2,318 ETH in staking rewards and currently holds a cash reserve exceeding $71.6 million that remains undeployed. The combination of accumulated ETH, staking yield and available liquidity highlights deliberate liquidity management and a material unallocated position relevant to investors assessing exposure to ETH.