Fannie Mae, Freddie Mac shares tumble after conservatorship comments
Investing.com -- SharpLink Gaming, Inc. (NASDAQ:SBET) stock rose 5.5% on Tuesday after the company reported a significant increase in its Ethereum (ETH) holdings, which grew to 360,807 ETH as of July 20, 2025, representing a 29% increase from the previous week.
The company, which describes itself as the world’s largest corporate holder of Ether as its primary treasury reserve asset, purchased 79,949 ETH during the week ending July 20 at an average price of $3,238. This marked the highest weekly amount of ETH purchased in the company’s historical reporting periods.
SharpLink has been implementing a digital treasury strategy since June 2, 2025, during which time it has generated 567 ETH in staking rewards. The company’s ETH Concentration metric rose to 3.06, up 53% since launching its digital treasury strategy.
"We continue to strategically leverage our ATM facility to build our ETH treasury in pursuit of our long-term growth objectives," stated Joseph Lubin, SharpLink Chairman, Co-Founder of Ethereum and Founder and CEO of Consensys.
The company still has $96.6 million in At-The-Market (ATM) net proceeds yet to be deployed to purchase more ETH. During the reporting week, SharpLink issued 3.8 million shares through its ATM facility.
SharpLink also commented on the recent signing of the Genius Act into law by President Donald Trump, calling it a "watershed moment" for the digital asset and blockchain industries that provides regulatory clarity for companies integrating blockchain technologies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.