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Sharplink Gaming added 19,271 Ether worth approximately $80.37 million to its strategic reserve on Monday, ending a month of quiet accumulation and signaling renewed conviction in the asset.
The purchase lifts the company’s holdings to 859,400 Ether valued at roughly $3.6 billion, placing it second among disclosed corporate treasuries behind BitMine, which holds about 3.24 million Ether worth $13.5 billion.
ACY Securities noted that the fresh buy fits Sharplink’s prior accumulation pattern and appears to be positioning ahead of potential Ether ETF inflows or easier macro conditions. The firm added that if the timing aligns with liquidity cycles, the move could amount to smart front-running.
Ethereum Faces Headwinds From Trump Tariff Threats as Markets Turn Cautious
The build comes as Ether faces pressure from macro headlines. Investors have been weighing President Donald Trump’s plan to impose tariffs of up to 155% on Chinese goods starting November 1, a risk that has fed risk aversion across markets.
Ether was last up 7.1% on the day, but is up only 1.1% in the previous two weeks.
Sharplink Gaming (@SharpLinkGaming) has added another 19,271 $ETH, worth $80.37M, to its Strategic $ETH reserve.
They now hold 859,395 $ETH, worth $3.58B.
Address: 0x5e3b62e38808fc9582c23bc05e8a19a091d979c9
Data @nansen_ai pic.twitter.com/HPPEW1SYpm— Onchain Lens (@OnchainLens) October 26, 2025
Even so, some funds are using weakness to add exposure. Sharplink has been one of the recent buyers, with BitMine also active, as investors prepare for a steadier backdrop later in the quarter.
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Seasonal trends remain a watchpoint. CoinGlass data shows the fourth quarter has historically been Ether’s second weakest period on average, a pattern traders say could still influence positioning.
Sharplink’s balance sheet moves follow a capital raise earlier this month. The company secured $76.5 million through a registered direct equity offering priced at $17 per share, a 12% premium to its October 15 close of $15.15.
The deal, placed with an institutional investor for 4.5 million common shares, was one of the few recent equity raises in the digital asset treasury space completed at both market and net asset value premium.
Sharplink Secures $400M in Deals to Strengthen Growth and Treasury Plans
In August, Sharplink entered securities purchase agreements totaling $400 million with five institutional investors, bolstering its capacity to pursue treasury and growth initiatives.
Taken together, the fresh Ether allocation, recent equity financing, and earlier commitments suggest Sharplink is leaning into a strategy that blends treasury diversification with tactical market timing.
Investors will now watch whether ETF inflows or a calmer macro backdrop validate the bet.
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