SharpLink Gaming, a name synonymous with innovation in the betting industry, announced a bold new venture on May 27, 2025. The company has launched an Ethereum-based corporate treasury strategy and appointed Ethereum co-founder Joseph Lubin as the chairman of its board of directors. This strategic move aims to bolster the firm’s financial backbone while placing Ethereum at the core of its treasury reserves.
A Beacon for Ethereum Enthusiasts
SharpLink’s decision to embrace Ethereum as its primary treasury asset comes amid a landscape where Bitcoin has traditionally dominated corporate crypto treasuries. The publicly traded company, listed on Nasdaq, has entered into a significant securities purchase agreement worth $425 million through a private investment in public equity. This deal is set to close imminently—by May 29, provided all conditions are met.
Joseph Lubin, who is also the founder and CEO of ConsenSys, expressed his enthusiasm for this collaboration. “On close, ConsenSys looks forward to partnering with SharpLink to explore and develop an Ethereum Treasury Strategy and to work with them in their core business as a strategic advisor,” Lubin stated. The anticipation surrounding this partnership has already sent ripples through the market, with SharpLink’s stock surging by an astounding 400%, currently trading at $33.50.
Who’s Who Among Investors
This monumental deal has attracted a host of heavyweight investors, including ConsenSys alongside venture capital giants like ParaFi Capital, Electric Capital, Pantera Capital, and Arrington Capital, to name a few. These firms are not new to the crypto scene, often seen making strategic bets on promising projects. SharpLink’s CEO, Rob Phythian, and CFO, Robert DeLucia, have also put their weight behind this initiative, signaling strong internal confidence.
The funds from this venture will not only support the establishment of an Ethereum treasury but also fuel other corporate pursuits. “ETH will serve as the Company’s primary treasury reserve asset,” SharpLink stated, highlighting its commitment to integrating Ethereum into its financial ecosystem. This follows a pattern of institutional adoption, which we detailed in our analysis of corporate treasury investments.
Shifting Sands in Corporate Crypto Treasuries
The narrative around corporate crypto treasuries is evolving. While Bitcoin has been the go-to choice, Ethereum is carving out its niche. Companies like Meitu have dabbled in Ether, though they liquidated their holdings last year. Others, like KPMG’s Canadian arm, have added Ether alongside Bitcoin, signaling a growing trend of diversification. As explored in our recent coverage of Metaplanet’s Bitcoin reserve strategy, the diversification of crypto assets in corporate treasuries is becoming more prevalent.
Reddit and Boyaa Interactive International also ventured into Ethereum, although both adjusted their holdings by the end of 2024. Notably, BTCS announced a financing agreement earlier this month to acquire Ether, underscoring a shifting sentiment in the market.
Looking Ahead
The launch of SharpLink’s Ethereum treasury raises intriguing questions about the future landscape of corporate crypto reserves. Will more companies follow suit, or will Bitcoin maintain its dominance? The decision to appoint Joe Lubin as board chair adds an extra layer of credibility and expertise, potentially setting a precedent for others in the industry.
As the dust settles on this announcement, the crypto community will be watching closely. SharpLink’s strategic pivot may not just be a momentary blip but a significant step towards a broader adoption of Ethereum in corporate finance. The coming months promise to be a fascinating period, as the implications of this move continue to unfold.
Source
This article is based on: SharpLink launches Ethereum treasury, taps Joe Lubin as board chair
Further Reading
Deepen your understanding with these related articles:
- Metaplanet Issues $25M Bonds to Buy More Bitcoin
- Strategy’s $84B Bitcoin Expansion Plan Backed by Wall Street Analysts
- Strategy Raising Another $21B to Buy Bitcoin, Posts Large Q1 Loss on BTC Price Decline
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
