Sharplink Makes First Ethereum Purchase in 2026 Amid Price Declines
Sharplink, an Ethereum treasury firm, bought around $16 million worth of Ethereum last week, marking its first acquisition since last year. The firm now holds approximately 886,725 ETH, valued at around $1.38 billion, according to Decrypt.
Sharplink, an Ethereum treasury firm, has made its first purchase of the year by acquiring 10,000 ETH, valued at approximately $16 million. This acquisition, reported last week, marks the firm's first crypto buy since last October, bringing its total ETH holdings to around 886,725, worth about $1.38 billion as Ethereum trades around $1,562.
Despite the recent downturn in Ethereum's price, which is down by more than 68% from its August 2026 peak of $4,946, Sharplink shows a commitment to maintaining and growing its Ethereum treasury. The firm completed a $75 million registered direct offering last week, which CEO Joseph Chalom stated provided necessary funds to support their active ETH treasury management strategy. "Our capital allocation philosophy is disciplined and straightforward: Every financing decision we make is based on our long-term objective to increase ETH per share," said Chalom.
In conjunction with adding to its ETH reserves, Sharplink also repurchased over 2 million shares of SBET, which has seen a price decline of around 88% from its 52-week high. Even with the buyback announcement, SBET shares fell about 3% shortly after market opening on the trading day following the news.
Sharplink's recent activities reflect a broader strategy to support the Ethereum network's growth. Last month, the firm partnered with BitMine Immersion Technologies to help establish Ethlabs, a new nonprofit organization focused on research and development for the Ethereum network. Furthermore, a $125 million fund created in collaboration with Galaxy Research aims to explore on-chain yield opportunities.
Investors and market observers will likely be watching how these strategic maneuvers by Sharplink influence both its share performance and the wider Ethereum market in the coming months.
Summary based on original reporting by Logan Hitchcock at Decrypt, originally published Jun 30, 2026. SolanaWire does not republish source content.
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