USDSharpLink Adds ETH and Expands SBET Buyback
Treasury firm ties fresh financing to ETH-per-share strategy
TL;DR
- SharpLink bought more ETH and repurchased SBET shares after completing a registered direct offering.
- The company said its capital allocation strategy is focused on increasing ETH per share.
- The moves came while ETH and SBET were both trading far below recent highs.
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SharpLink said Tuesday, June 30, 2026, that it bought 10,000 ETH and repurchased 2,132,773 SBET shares, extending its Ethereum treasury strategy while its stock and ETH price remained under pressure.
The disclosure showed SharpLink’s ETH holdings reached 886,725 ETH as of June 28, 2026. The company acquired the latest ETH at an average price of $1,611 per ETH, implying a transaction value of about $16.1 million. Another figure described the purchase as roughly $16 million worth of ETH, marking SharpLink’s first crypto acquisition of 2026 and its first acquisition since October 2025.
The ETH purchase was described as SharpLink’s first publicly announced ETH buy in eight months, and the company said the latest purchases reflected its continued commitment to expanding ETH as a long-term reserve asset.
SharpLink links financing to ETH-per-share strategy
The ETH purchase and share repurchase followed SharpLink’s completion of a registered direct offering of common stock and warrants during the week ended June 28, 2026. SharpLink CEO Joseph Chalom said the offering strengthened the company’s balance sheet and gave it capital to support the company’s active ETH treasury management plan.
“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,” Chalom said.
Chalom said the company’s approach to capital allocation is tied directly to shareholder exposure to Ethereum. “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,” he said.
SharpLink also said it believes SBET is “significantly undervalued,” giving the company’s stated rationale for continuing open-market repurchases while adding to its ETH treasury. The latest buyback round brought cumulative repurchases under the program to a larger total since the initiative began in August 2025.
COIN360 data showed ETH price traded above the stated level on Tuesday while posting a negative 24-hour move. The company’s ETH position was valued using a separate Tuesday level near $1,562, placing the treasury at the reported dollar amount.
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Prior activity, partnerships and unresolved details
EmberCN said last week that SharpLink had acquired ETH through FalconX, citing Arkham data, but SharpLink had not confirmed that transaction at the time. That earlier observation remains separate from the confirmed June 30 announcement.
SharpLink also recently joined BitMine Immersion Technologies to help back the founding of Ethlabs, a nonprofit research and development organization focused on championing the Ethereum network and its native asset. The move showed SharpLink’s Ethereum activity was not limited to balance-sheet purchases.
SharpLink previously announced a fund with Galaxy Research as the company sought access to on-chain yields. That fund placed SharpLink’s ETH strategy alongside an effort to make treasury assets productive through yield opportunities, according to the details provided.
A representative for SharpLink did not immediately respond to a request for comment.
FAQ
What did SharpLink announce?
SharpLink announced an ETH purchase and a new round of SBET share repurchases.
Who explained the company’s strategy?
SharpLink CEO Joseph Chalom tied the moves to increasing ETH per share.
Was the prior FalconX transaction confirmed?
No. EmberCN cited Arkham data, but SharpLink had not confirmed it.
What else is SharpLink doing around Ethereum?
SharpLink is involved with Ethlabs and a Galaxy Research-linked yield fund.
This article has been refined and enhanced by ChatGPT.
