SharpLink Invests $463M in Ethereum, Becomes Biggest Publicly Traded Holder

Cryptocurrency exchange SharpLink made a significant move by purchasing over 176,000 ETH worth $462.9 million. The company plans to stake 95% of this investment to generate passive income and bolster the Ethereum network’s security. This acquisition comes as the company adopts a strategic shift towards cryptocurrency as a treasury reserve asset, with the value of their shares surging by 11.8% since June. SharpLink’s decision aligns with growing institutional interest in cryptocurrencies, which has prompted U.S. regulators to draft new digital asset legislation for enhanced adoption.