Sharplink buys ETH after 8-month pause as token hits 2026 low
Sharplink made its first Ether purchase in eight months, buying 5,000 ETH worth about $7.85 million from FalconX as Ether fell to $1,537, its lowest price this year. The buy may signal renewed confidence in its ETH accumulation strategy. Sharplink now holds 876,285 ETH and ETH equivalents, accumulated through purchases and staking rewards. The company shifted from affiliate marketing to an Ethereum treasury model in June 2025, with Consensys CEO Joe Lubin as chairman. It was once the largest public ETH holder but was overtaken by Bitmine, which now holds 5.67 million ETH. The purchase came shortly before Sharplink is expected to join the Russell 2000 and Russell 3000 indexes, which could expand its investor base and improve capital access. CEO Joseph Chalom has previously pointed to three possible ETH price catalysts: US crypto legislation, improving risk appetite, and growth in real-world asset tokenization.
