Overview
- The company restarted external purchases last week, acquiring roughly 39,196 ETH over three days with an initial 5,000 ETH routed through prime broker FalconX followed by about 29,196 ETH in three OTC trades.
- On‑chain trackers now estimate SharpLink holds roughly 876,285 ETH including about 22,102 ETH earned from staking and report an average acquisition cost near $3,609 per token.
- With ETH trading near 2026 lows, that cost basis places SharpLink on roughly $1.7 billion to $1.8 billion in unrealized losses at current prices.
- SharpLink has also backed Ethlabs as part of efforts to ready Ethereum for institutional use and is expected to join the Russell indexes, a change that could alter its shareholder mix and access to capital.
- The firm’s strategy mixes large-scale accumulation with staking to generate yield, a playbook compared to corporate Bitcoin buys but unproven for ETH given weak ETF flows and low spot prices.