Overview

• In May, SharpLink raised $425 million through a PIPE offering to establish an Ethereum treasury strategy
• The June 12 S-3 shelf prospectus filing registered shares for potential resale and triggered a 66% drop in its stock price, a routine move insiders say did not involve actual sales
• On June 13, the company acquired 176,271 ether for nearly $463 million, partly financed by a $79 million draw on its at-the-market equity program
• SharpLink has deployed more than 95% of its ether into staking and liquid staking protocols to bolster Ethereum’s network security and generate yield
• With its new holdings, SharpLink ranks as the largest publicly traded Ethereum holder and the second-largest treasury overall after the Ethereum Foundation