The second-largest corporate ether holder obtained 5,000 ETH valued at approximately $7.85 million on Thursday, marking its first inflow since October, despite facing a paper loss of about $1.8 billion.
By Shaurya Malwa|Edited by Jamie Crawley Jun 26, 2026, 9:47 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Sharplink received 5,000 ether valued at approximately $7.85 million from FalconX, marking its first ether inflow in eight months, even amidst a decline in token prices due to a broader crypto sell-off.
- As of June 21, the company held around 876,285 ether, making it the second-largest public ether treasury, while facing an unrealized loss estimated at $1.79 billion due to prices significantly lower than its average acquisition cost.
- Despite increasing revenue and a broader emphasis on ether staking and onchain yield strategies, Sharplink’s shares have dropped nearly 27% in the past month and 50% over the last six months.
On Thursday, Sharplink (SBET) recorded an inflow of 5,000 ether (ETH) valued at around $7.85 million, marking its first ether acquisition in eight months, as reported by Arkham data, which noted the transfer was from the crypto brokerage FalconX.
This addition, although modest relative to the company’s total holdings, comes at an inopportune time. As of June 21, Sharplink possessed 876,285 ether worth roughly $1.3 billion, making it the second-largest public ether treasury after Tom Lee's Bitmine Immersion (BMNR), which had about 5.67 million ether in mid-June.
According to onchain analyst EmberCN, Sharplink's average purchase price is approximately $3,609 per coin, leading to an unrealized loss of around $1.79 billion, with ether currently trading near $1,555.
The last time Sharplink added ether was in October 2025, when it acquired 19,270 ether for $78.3 million, which is also now significantly underwater.
The ether inflow occurred during a period when the token declined by 5% within 24 hours amid a widespread crypto sell-off, dropping below $1,560, as bitcoin dipped under $59,000. During this market turmoil, Tether's USDT briefly surpassed ether in market capitalization, valued at approximately $186 billion compared to ether's $185 billion.
Even with the falling ether price, Sharplink is continuing to invest in ether. The company rebranded from SharpLink Gaming in February and has expanded its operations beyond basic ether staking, which involves locking tokens to secure the network in exchange for rewards, into various onchain yield strategies.
For the first quarter, Sharplink reported $12.1 million in revenue, a significant increase from $742,000 a year prior.
Recently, the company supported Ethlabs, a nonprofit created by former Ethereum Foundation researchers aimed at preparing the network for broader institutional adoption, alongside Bitmine and Ethereum co-founder and Sharplink chairman Joe Lubin.
However, the market has not responded positively to these moves. On Thursday, Sharplink's shares on Nasdaq fell by 3.5% to close at $4.56, with a 27% decline over the past month and a 50% drop over the last six months.
Sharplink has not confirmed the ether transfer publicly. CoinDesk has reached out for further comments.
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