Ethereum Foundation Sells 10,000 ETH to SharpLink in Historic OTC Deal
The Ethereum Foundation has offloaded 10,000 ether (ETH) in a private OTC transaction to SharpLink Gaming for $25.7 million — marking the first time a publicly traded company has acquired ETH directly from Ethereum’s core entity.
The deal was settled on-chain on July 10 at an average price of $2,572.37 per ETH, with the proceeds earmarked to support the Foundation’s ongoing development and ecosystem initiatives.
SharpLink, which trades on Nasdaq under the ticker SBET, framed the acquisition not as a speculative play but as a long-term strategic commitment. The company intends to hold ETH as its primary treasury reserve asset and plans to stake and restake the tokens, effectively reducing their circulating supply.
“This isn’t a trade — it’s a commitment,” said Joseph Lubin, Chairman of SharpLink and co-founder of Ethereum. “SharpLink is acquiring, staking, and restaking ETH as responsible industry stewards, removing supply from circulation and reinforcing the health of the Ethereum ecosystem.”
Lubin further described the purchase as a potential blueprint for other mission-driven organizations aiming to align financial strategies with decentralized ecosystems:
“Moreover, we see this as the start of something bigger — a model for how mission-driven organizations can work to advance our ecosystem’s shared goals of decentralization, economic empowerment, and protocol-native finance.”
The transaction comes amid renewed interest in ETH, driven by inflows into Ethereum ETFs and the growing popularity of ETH-denominated treasuries and decentralized financial solutions.
ETH was trading above $3,000 as of Friday morning in the U.S., reflecting an 8% gain over the prior 24 hours.
