How SharpLink Aims to Be the Most 'Focused, Disciplined' Ethereum Treasury in 2026
In 2025, digital asset treasuries rapidly accumulated large quantities of cryptocurrencies like Bitcoin and Ethereum. By 2026, SharpLink Gaming is focused on long-term stability and disciplined treasury management rather than aggressive accumulation. SharpLink’s CEO, Joseph Chalom, emphasizes adding ETH only when it is accretive to shareholders and when its multiple to net-asset-value (mNAV) is above 1. The firm currently holds over 865,000 ETH (worth $2.6 billion), notably behind competitor BitMine Immersion Technologies, which holds 4.2 million ETH and actively invests in ventures. Chalom rejects frequent fundraising or diluting shareholders and prioritizes discipline over flashy moves. Though SharpLink’s shares have dropped over 60% in six months, institutional ownership is rising. Recently, the firm staked $170 million in ETH on Ethereum’s Linea network to generate yield, marking a shift to more productive use of ETH. SharpLink aims to eventually hold 5% of Ethereum’s circulating supply but will do so with a focus on shareholder value and ETH concentration per share, not accumulation for its own sake.
