Ethereum Deemed ‘Key Layer for Global Finance’ by Investor Firm Backing It With $500 Million

Ethereum Holds Firm Above $2,500 as SharpLink Gaming Expands ETH Treasury Holdings

Ethereum remains steady above the $2,500 mark, as SharpLink Gaming strengthens its commitment to using ETH as the core of its corporate treasury, underscoring Ethereum’s potential as a vital layer for the global financial ecosystem.

Currently, Ether (ETH) is trading near $2,505, up around 0.56% over the past 24 hours, according to CoinDesk Research’s technical analysis. Meanwhile, the broader crypto market, reflected in the CoinDesk 20 Index (CD20), has risen by 0.34% in the same period.

SharpLink Gaming, Inc. (NASDAQ: SBET), a Minnesota-based digital performance marketing firm focused on the sports betting and iGaming sectors, has attracted significant attention for pivoting heavily toward Ethereum. The company’s proprietary AI-powered C4 platform enables sportsbooks and online casinos to optimize customer acquisition and retention through tailored, data-driven marketing campaigns. With several strategic acquisitions and partnerships, SharpLink has solidified its role as a key player in the expanding sports betting industry.

On July 4, SharpLink announced on X (formerly Twitter) that it had become the first publicly listed company to designate ETH as its primary treasury reserve asset. The company detailed its plan to actively accumulate and stake ETH to enhance its ETH-per-share value and deliver sustained returns to shareholders.

Unlike traditional treasury approaches, SharpLink’s strategy isn’t just about holding ETH—it plans to engage in staking, restaking, and deploying assets into DeFi protocols for yield generation. The firm highlighted ETH’s advantages as a corporate treasury asset, including staking rewards, participation in decentralized finance applications, and inherent scarcity and security, all of which align with the vision for the internet’s future infrastructure.

This significant shift started on May 27, when SharpLink secured a $425 million private placement led by Consensys and other leading crypto investors, earmarked to fund large ETH purchases for its treasury. As part of this transition, Ethereum co-founder and Consensys founder Joseph Lubin joined SharpLink’s Board of Directors as Chairman, signaling a strong commitment to blockchain innovation.

Since publicly launching its ETH-focused treasury approach on June 2, SharpLink has quickly built up its Ethereum reserves. Between May 30 and June 12, the firm bought roughly 176,271 ETH for approximately $463 million, at an average price of $2,626 per ETH.

From June 16 to June 20, SharpLink acquired another 12,207 ETH, investing about $30.7 million—financed partly through $27.7 million raised from At-The-Market (ATM) equity offerings.

By June 24, SharpLink’s total ETH holdings reached 188,478 ETH, with the entire amount allocated to staking protocols to earn yield. As of July 1, the company had increased its holdings to 198,478 ETH, generating over 220 ETH in staking rewards since adopting this strategy.

Joseph Lubin has described the move to embed Ethereum at the center of SharpLink’s treasury and business model as both a technological innovation and a sign of institutional confidence. He believes it positions the firm as a pioneer in the future of digital business. Meanwhile, CEO Rob Phythian noted that the company’s planned Nasdaq closing bell event on July 7, 2025, will symbolize this evolution, showcasing how digital assets can operate within the regulatory frameworks of public markets and corporate governance.

SharpLink’s decisive ETH strategy places it at the crossroads of sports betting, blockchain technology, and decentralized finance, providing investors with regulated exposure to Ethereum while advancing its mission to reshape the iGaming space.

Technical Analysis Overview

  • Between July 4 at 15:00 and July 5 at 14:00, ETH climbed 2.2%, rising from $2,475.48 to $2,530.02.
  • A sharp drop between 13:06 and 14:05 pulled ETH back to $2,514.85 before buyers stepped in.
  • Strong support was seen around $2,480–$2,500 during the July 5 16:00 hour, with over 382,821 ETH traded.
  • A breakout on July 4 at 22:00 lifted ETH above $2,520, encountering resistance near $2,530.
  • ETH consolidated around $2,515, showing reduced volatility and forming an ascending trendline after 13:40.
  • Momentum remains neutral in the short term but overall leans bullish, preserving the uptrend from late June.

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