Ethereum Foundation Sells 10,000 ETH in Landmark Deal with SharpLink
In a groundbreaking transaction, the Ethereum Foundation has sold 10,000 ether (ETH) to SharpLink Gaming in an over-the-counter (OTC) deal valued at $25.7 million. This marks the first time a publicly listed company has acquired ETH directly from the Foundation, Ethereum’s core steward.
The transaction was completed on July 10 via the Foundation’s multisig wallet, at an average price of $2,572.37 per ETH. Proceeds from the sale will be used to fund the Foundation’s ongoing development and ecosystem initiatives.
SharpLink, which trades on Nasdaq under the ticker SBET, emphasized that the acquisition represents a long-term strategic move rather than a speculative trade. The company plans to hold ETH as its primary treasury reserve asset and intends to stake and restake the tokens, effectively removing them from active supply.
“This isn’t a trade—it’s a commitment,” said Joseph Lubin, Chairman of SharpLink and co-founder of Ethereum. “SharpLink is acquiring, staking, and restaking ETH as responsible industry stewards, removing supply from circulation and contributing to the health of the Ethereum ecosystem.”
Lubin also sees this transaction as a potential blueprint for other mission-focused organizations:
“We view this as the beginning of a larger movement—a model for how mission-driven entities can help drive forward our shared goals of decentralization, economic empowerment, and protocol-native finance.”
The sale coincides with rising institutional interest in ETH, increasing inflows into ETH-focused ETFs, and a resurgence of ETH-denominated treasuries.
At last check, ETH was trading above $3,000 on Friday morning in the U.S., representing a gain of over 8% in the previous 24 hours.
