SharpLink, an Ethereum treasury company, has bought 10,000 ETH for about $16.1 million, even though Ethereum is under selling pressure and could see its third straight quarterly loss. This purchase brings SharpLink’s total holdings to nearly 887,000 ETH, showing the company’s long-term confidence in Ethereum.
SharpLink also sped up its share buyback program, signalling trust in its capital strategy despite tough market conditions. While this aggressive buying has caught attention, Ethereum is still struggling below important price levels, and investors remain split on its short-term future.
According to the company’s latest announcement, SharpLink acquired the additional Ethereum at an average price of $1,611 per token. The purchase brings its total holdings to 886,725 ETH, making it one of the largest corporate holders of the cryptocurrency.
This purchase comes after SharpLink raised $75 million through a stock offering, showing its commitment to growing its Ethereum treasury. At the same time, the company bought back over 2.13 million shares of its common stock at an average price of $4.69 each.
Since August 2025, SharpLink has bought back more than 4.07 million shares, showing confidence in its finances and long-term plans. Still, its stock fell about 2.5% after the latest news, which suggests investors are cautious because of ongoing market ups and downs.
The latest investment also comes shortly after SharpLink joined the Russell 2000 and Russell 3000 indexes, a milestone that increases the company’s visibility among institutional investors.
Ethereum is still facing challenges. It was trading near $1,555, down about 25% for the quarter and having trouble moving back above $1,600. If this trend keeps up, it will be the first time Ethereum has had three straight quarters of losses.
Even with these struggles, some analysts are still hopeful. They note that companies like SharpLink and Bitmine, which recently bought over 27,000 ETH, are still buying. Market analyst Ted Pillows thinks Ethereum could bounce back if it stays above the important $1,500 support level. But if it drops below that, prices might fall to $1,400 or lower.
For now, SharpLink’s recent purchase shows that some companies still see Ethereum as a long-term investment, even though the overall market is uncertain.
This week Sharplink acquired 10,000 ETH, bringing total holdings to 886,725 ETH (worth ~$1.4B at today’s ETH price of $1,570).
We also repurchased 2,132,773 shares for roughly $10M at an average price of $4.69, part of our buyback program that has now repurchased 4,071,223… pic.twitter.com/4oyMvR7EML
— Sharplink (@Sharplink) June 30, 2026
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