SharpLink Gaming (SBET) is making waves again in crypto markets, announcing plans to expand its Ethereum treasury beyond $2 billion through a new $200 million capital raise.

Key Details of the Funding Round
💰 $200 million direct offering at $19.50/share
🏦 4 institutional investors participating
📅 Closing August 8 (subject to conditions)
📈 Stock surged 4% on the news (YTD: +192%)
SharpLink’s Growing Ethereum Dominance
- Current holdings: 498,884 ETH ($1.95B)
- Planned purchase: Additional ~51,000 ETH ($200M)
- Ranking: #2 public ETH holder behind BitMine (833K ETH)
New co-CEO Joseph Chalom (ex-BlackRock) stated:
“This deal validates our mission to become the world’s leading ETH treasury.”
Market Impact and ETH Price Action
🚀 ETH at 6-month high ($3,900)
📈 Institutional demand surging
💡 Tom Lee’s bold prediction: ETH could hit $16,000