SharpLink Gaming Boosts Ethereum Treasury to $3.6B with $80M Purchase

Sources: X

SharpLink Gaming has expanded its Ethereum holdings by acquiring 19,271 ETH worth $80.37 million, elevating its total reserve to 859,400 ETH valued at approximately $3.6 billion.

Ethereum Faces Headwinds From Trump Tariff Threats as Markets Turn Cautious

The build comes as Ether faces pressure from macro headlines. Investors have been weighing President Donald Trump’s plan to impose tariffs of up to 155% on Chinese goods starting Nov. 1, a risk that has fed risk aversion across markets.

Ether was last up 7.1% on the day, but is up only 1.1% in the previous two weeks.

Even so, some funds are using weakness to add exposure. Sharplink has been one of the recent buyers, with BitMine also active, as investors prepare for a steadier backdrop later in the quarter.

Seasonal Weakness Looms as Ether Enters Historically Soft Fourth Quarter

Seasonal trends remain a watchpoint. Sharplink’s balance sheet moves follow a capital raise earlier this month. The company secured $76.5m through a registered direct equity offering priced at $17 per share, a 12% premium to its Oct. 15 close of $15.15.

The deal, placed with an institutional investor for 4.5m common shares, was one of the few recent equity raises in the digital asset treasury space completed at both market and net asset value premium.

Sharplink Secures $400M in Deals to Strengthen Growth and Treasury Plans

In August, Sharplink entered securities purchase agreements totaling $400m with five institutional investors, bolstering its capacity to pursue treasury and growth initiatives.

Taken together, the fresh Ether allocation, recent equity financing, and earlier commitments suggest Sharplink is leaning into a strategy that blends treasury diversification with tactical market timing.

Investors will now watch whether ETF inflows or a calmer macro backdrop validate the bet.