Sharplink said Tuesday it purchased 10,000 Ether and continued repurchasing its own shares, pushing its digital asset reserves higher while reinforcing a dual capital allocation strategy.
The latest purchase, valued at about $16.1 million, was executed at an average price of $1,611 per token and brings the company’s total Ether holdings to 886,725 tokens as of June 28. The move marks Sharplink’s first confirmed Ether acquisition in eight months and underscores its stated plan to use the cryptocurrency as a reserve asset on its balance sheet.
The announcement follows a separate, previously unverified onchain transaction suggesting the firm acquired 5,000 Ether through a third-party platform. That activity is now effectively confirmed as part of a broader accumulation effort.
Share buybacks continue alongside crypto strategy
Alongside the digital asset purchase, Sharplink repurchased 2,132,773 shares at an average price of $4.69 in open-market transactions. Total buybacks under the program have reached 4,071,223 shares since August 2025.
The update comes shortly after the company completed a $75 million registered direct offering of common stock and warrants, aimed at strengthening liquidity for treasury management.
Market reaction and pricing context
Ether traded near $1,566 on Tuesday, down about 2.9% over the past 24 hours, below Sharplink’s recent purchase price. Shares of the company closed at $4.92 on Monday before slipping to $4.78 in early Tuesday trading.
Sharplink’s accumulation comes during a broader downturn in Ether’s price. The asset has fallen sharply in recent weeks and continues to underperform Bitcoin, with the ETH/BTC ratio near multi-year lows.
Corporate demand contrasts with broader flows
Sharplink’s move stands out against weaker sentiment in other parts of the market. U.S. spot Ether exchange-traded products have recorded ongoing net outflows, signaling caution among some segments of market participants.
The company’s growing holdings position its stock as a potential proxy for Ether exposure. Traders are likely to watch whether its share price increasingly tracks the cryptocurrency’s performance in the weeks ahead.
Attention is also on whether other public companies adopt similar treasury strategies. A broader shift toward holding Ether on balance sheets could introduce a new source of demand and influence the asset’s longer-term valuation.
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