Key takeaways:
SharpLink Gaming establishes the first ETH treasury, backed by Ethereum co-founder Joe Lubin. SharpLink will invest $425 million to acquire 120,000 ETH.
Ethereum futures open interest hits an all-time high of $36.1 billion, with ETH price climbing 4.5% on the daily chart.
Nasdaq-listed SharpLink Gaming (SBET) announced a $425 million private investment in public equity (PIPE), acquiring approximately 69.1 million shares at $6.15 each to establish the first Nasdaq-listed Ethereum (ETH) treasury company.
Spearheaded by Ethereum co-founder Joe Lubin, this move mirrors Strategy’s (MSTR) successful Bitcoin treasury strategy, which has yielded over $8.2 billion in gains in 2025, by leveraging stock and bond sales to acquire BTC.
Former Ethereum core developer and contributor Eric Conner highlighted the bullish implications of SharpLink’s move, noting its potential to create a “public ETH proxy for funds that can’t hold tokens directly.”
Conner emphasized that the acquisition