Down $1.7B, SharpLink Resumes Buying Ethereum

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Publicly traded digital asset company SharpLink has bought Ethereum (ETH) for the first time this year, following an eight-month silence, while the coin traded near its lowest point in more than a year.

Onchain tracker Lookonchain posted that a wallet linked to SharpLink received 5,000 ETH from FalconX. This amount is worth some $7.85 million.

The data provided in the post shows that the last time SharpLink received ETH from FalconX was back in October 2025, when it bought nearly 19.3 ETH, worth $78.3 million.

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Per the tracker, the institutional-grade Ethereum treasury platform now holds 876,285 ETH, worth $1.4 billion. This includes 22,102 ETH it earned from staking. 

$1.71B Unrealized Loss

SharpLink paused its aggressive ETH accumulation because its treasury was already heavily underwater. Additionally, the management underwent a restructuring. So, after purchasing heavily in late 2025, the firm turned its focus on generating yield from the existing holdings, which it managed to do.

The company is now sitting on an unrealized loss of $1.71 billion, Lookonchain said. The average purchase price per coin is $3,609.

Yet, this purchase came as ETH dropped to its lowest level this year, dipping to $1,517. The last time it was this low was April 2025. 

At the time of writing (Friday, 19:20 UTC), ETH increased by 1.1%, trading at $1,577. Its intraday high was $1,584.

It’s down 7.2% in the past week, 23% in a month, 35% in a year, and 68% from the all-time high of $4,946 recorded in August 2025.

SharpLink Moves to 2^nd Place

Meanwhile, Bitmine announced earlier in June that it purchased another 52,203 ETH worth $90 million, bringing the total to 5.673 million coins. It’s now holding 4.7% of Ethereum’s supply, moving closer to the 5% goal. However, this purchase also made it the largest public ETH treasury company, putting SharpLink in the second place.

SharpLink recently announced that it will be included in the Russell 2000 Index and Russell 3000 Index. The addition will take effect on June 29, 2026, at the conclusion of the Russell indexes’ semi-annual reconstitution, the press release says.