Stock Sale Jumps to $6B as Ethereum’s Biggest Wall Street Proponent Grows ETH Holdings.

SharpLink Ups Equity Sale to $6B as Ethereum Treasury Bet Deepens

SharpLink Gaming (NASDAQ: SBET), the largest corporate holder of ether (ETH), has raised its stock sale target to $6 billion as it continues building out its ETH-backed treasury strategy.

In a new filing with the U.S. Securities and Exchange Commission (SEC) on Thursday, the Minnesota-based firm amended its previous plan to include an additional $5 billion in common stock sales, on top of the $1 billion originally authorized on May 30. Of the initial allocation, $721 million has already been sold, leaving $279 million still available alongside the new offering.

“We are increasing the total amount of Common Stock that may be sold under the Sales Agreement to $6 billion,” the company stated in its updated prospectus.

The move is part of a broader campaign to load its corporate balance sheet with ETH. SharpLink now holds more than 321,000 ETH — worth roughly $1.1 billion — following a $425 million private placement led by Consensys in June. That deal also brought Ethereum co-founder Joseph Lubin onto SharpLink’s board as chairman.

This aggressive push into Ethereum resembles early Bitcoin-focused strategies by firms like MicroStrategy but marks a pivot to ETH as the core reserve asset. It underscores rising institutional interest in Ethereum as a programmable money layer and infrastructure play.

SharpLink’s move positions it as a key corporate bellwether in the evolving crypto treasury landscape.