U.S. online gaming company SharpLink announced in late May that it would enter the Ethereum (ETH) strategic reserve and declared on 6/13 that it has purchased 176,270.69 ETH, spending a total of $460 million, becoming the world's largest publicly traded ETH reserve company and the second-largest ETH holder after the Ethereum Foundation.
SharpLink announced that it has purchased 176,270.69 ETH, spending a total of $460 million, becoming the world's largest publicly traded ETH reserve company and the second-largest ETH holder after the Ethereum Foundation.
The funds for this ETH purchase came from a private investment in public equity (PIPE) transaction on May 26, 2025, and additional proceeds of approximately $79 million raised through at-the-market (ATM) stock issuance.
According to the previously submitted S-3 document by SharpLink Gaming, the company plans to raise up to one billion dollars through the issuance of common stocks, preferred stocks, warrants, and bonds, in one or multiple offerings.
As of June 13, 2025, over 95% of the ETH held by SharpLink has been actively deployed in staking and liquid staking solutions, contributing to network security while generating native yields.
SharpLink Gaming CEO Rob Phythian stated: "This is a milestone moment for SharpLink and publicly traded companies adopting digital assets. We believe Ethereum is the infrastructure for future digital commerce and decentralized applications. Our decision to make ETH our primary reserve asset reflects our firm belief in ETH as programmable, yield-generating digital capital."
SharpLink Gaming Chairman, Ethereum co-founder, ConsenSys founder and CEO Joseph Lubin added: "SharpLink's bold ETH strategy represents a key milestone and innovative approach to Ethereum's institutional application. This strategy comes at a special time when the U.S. Congress is pushing important stablecoin and digital asset market structure legislation. We hope such legislation can be a catalyst for Ethereum technology. By investing substantial funds and deploying them in network activities like staking, SharpLink has contributed to Ethereum's long-term security and trust attributes while earning additional ETH."
SharpLink filed an S-3 form with the SEC on 6/12, registering over 58.7 million shares for potential future resale, which the market interpreted as "imminent massive selling," triggering panic selling and causing the stock price to plummet by over 70% in a single day.
U.S. stocks rallied broadly yesterday (6/10), with the market being optimistic about the U.S.-China trade agreement and anticipating the upcoming CPI data. The S&P 500 index rose for three consecutive days, just 1.7% away from its historical high. Technology and related semiconductor stocks performed brilliantly, with TSMC ADR rising 2.64%. Meanwhile, U.S. and China launched a new round of negotiations in London, with Commerce Secretary Howard Lutnick stating the progress was "quite smooth". Bitcoin rose about 0.22% from the previous day, but Ethereum performed outstandingly, surging approximately 3.91% and reaching $2,833 at one point.Toggle
US-China London Negotiations Progress Smoothly, CPI Data Becomes Market Focus
US Secretary of Commerce Howard Lutnick stated that the US-China talks were "quite smooth" and expects to complete the agreement by Tuesday evening (6/10) local time, or Wednesday if not reached. Lutnick further suggested that recent US restrictions on high-tech product exports to China might be eased after Beijing releases rare earth. The market also anticipates that both sides could reach a consensus on key export issues such as "tariff reduction" and "rare earth".
The US Consumer Price Index (CPI) will be released on Wednesday (6/11), with market expectations of an increase from 2.3% to 2.5% year-on-year, primarily due to potential price increases from Trump's import tariff policies. Citibank also predicts that the Federal Reserve (Fed) will remain neutral in the June and July meetings, with the earliest rate cut potentially in September.
Musk and Trump Beef Continues, Tesla Rises for Three Consecutive Days
Previously, Tesla founder Musk and Trump engaged in a public dispute over the "One Big Beautiful Bill Act" content, with Vice President JD Vance even attempting to mediate and hope for reconciliation.
Musk stated on X (Twitter) that the first Tesla self-driving car will go directly from the production line to the customer's home on 6/28. Austin Transportation Department data shows Tesla has been officially listed as a Known AV Operator in Austin, currently in the testing phase, with Tesla autonomous taxis being tested on the roads. Tesla has risen 5.67% for three consecutive days, closing at $326.09.
Bit Coin Retraces to 109K, ETH Rises to $2,833 Due to ETF
After breaking through the 110K mark yesterday, BTC has slightly retreated to the 108K - 109K range, while ETH performance stands out.
According to on-chain analyst Trader T, the net inflow of US Ethereum spot ETF has reached $124.01 million, creating the highest trading volume in 4 months, causing ETH to rise to $2,833. Here are the net inflows of major Ethereum ETFs:
BlackRock ETHA: Net inflow of $79.67 million.
Fidelity FETH: Net inflow of $26.32 million.
Bitwise ETHW: Net inflow of $8.35 million.
Grayscale ETH: Net inflow of $9.67 million.
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