Joseph Lubin-Backed Firm Plans $475M Ethereum Treasury Move

SharpLink Gaming has revealed plans to allocate $475 million into Ethereum (ETH), positioning the digital asset as a key part of its treasury strategy.

The move comes as part of a broader initiative spearheaded by Consensys CEO and Ethereum co-founder Joseph Lubin, who currently chairs SharpLink’s board.

The company intends to raise the capital through the sale of over 69 million shares of its common stock, channeling the proceeds into a significant ETH acquisition. The announcement positions SharpLink among a growing class of publicly traded firms leveraging crypto as a reserve asset.

Lubin expressed enthusiasm about the collaboration, stating that Consensys will work closely with SharpLink in shaping its Ethereum-based financial strategy and serve as a strategic advisor in its core operations. “It’s an exciting moment for Ethereum,” Lubin noted, adding that he looks forward to helping bring ETH into the spotlight of public markets.

READ MORE:

Final Days Left to Buy Meme Index Tokens at Presale Price Before Exchange Listing

Investor interest surged ahead of the announcement. SharpLink’s stock (SBET) experienced a dramatic rally, skyrocketing from $2.79 on May 22 to a high of $50.06 on May 27—a staggering 945% gain—before pulling back to around $29.78.

With Ethereum adoption gaining momentum, SharpLink’s bold move could signal a new wave of corporate crypto treasuries focused on ETH rather than Bitcoin.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.