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SharpLink Posts $970 Million in Unrealized Gains on 839,000-ETH Treasury

The debt-free firm is turning its holdings into active infrastructure through stock tokenization, with planned staking on Linea.

Overview

  • The company reports 838,730 ETH worth about $3.93 billion after Ethereum’s move to roughly $4,700, representing about 0.69% of circulating supply.
  • SharpLink began accumulating Ether in June 2025 and has not materially added since early September, maintaining a balance-sheet with no debt.
  • SharpLink says it will tokenize its SEC-registered common stock on Ethereum, naming Superstate as its digital transfer agent.
  • The firm plans a ConsenSys-linked initiative to stake part of its position on the Linea Layer 2 network, while most ETH is already staked for yield using Anchorage and Coinbase custody.
  • SharpLink ranks as the No. 2 public corporate ETH holder behind BitMine’s 2.83 million ETH, as recent coverage also highlights heavy inflows into spot Ethereum ETFs.